SeaWorld Entertainment, Inc. Announces Buyback and Hill Path Capital to Increase Investment
PR NewswireMay 28, 2019, 11:15 AM GMT
SeaWorld Entertainment, Inc. to purchase approximately 5.6 million shares from an affiliate of Pacific Alliance Group ("PAG"); Hill Path Capital to purchase approximately 13.2 million shares from PAG and increases equity stake to approximately 34.5%
ORLANDO, Fla., May 28, 2019 /PRNewswire/ -- SeaWorld Entertainment, Inc. (SEAS) ("SeaWorld" or the "Company"), a leading theme park and entertainment company, announced today that (a) the Company has entered into an agreement to acquire approximately 5.6 million shares for approximately $150.0 million from an affiliate of PAG and (b) Hill Path Capital LP and certain of its affiliated investment funds ("Hill Path"), a long-term SeaWorld investor have entered into an agreement for certain of such affiliated investment funds to acquire approximately 13.2 million shares, from an affiliate of PAG, increasing its equity stake in the Company to approximately 34.5%.