Blackstone to buy Sea World and Busch Gardens

[The Straight Story]

Blackstone to buy A-B InBev's theme parks for $2.7 billion

By William Spain, MarketWatch

CHICAGO (MarketWatch) -- Anheuser-Busch InBev said Wednesday that it will sell its entertainment business, including theme parks like Sea World and Busch Gardens, to the Blackstone Group for as much as $2.7 billion.

The final purchase price will involve a cash payment of $2.3 billion on closing and the right to participate in Blackstone's returns that is capped at $400 million.

For that, Blackstone /quotes/comstock/13*!bx/quotes/nls/bx (BX 14.52, -0.01, -0.07%) gets Anheuser-Busch InBev's /quotes/comstock/13*!bud/quotes/nls/bud (BUD 46.70, +0.04, +0.09%) subsidiary Busch Entertainment Corp., which operates 10 amusement parks in the U.S.

The move to sell the parks has been anticipated since InBev swallowed up the American brewer last year, ballooning its balance sheet with billions in additional debt.

While Carlos Brito, chief executive of Anheuser-Busch InBev, said the parks are "a high-performing asset," they are not "a core business for Anheuser-Busch InBev."

He added that the sale is "another important milestone in our commitment to de-leverage the company and will also allow us to continue to focus on our core brewing business."

http://www.marketwatch.com/story/blackstone-buys-a-b-inbevs-theme-parks-for-27b-2009-10-07

[CreekDog]

1. Who's buying Duff Gardens?

[MorningGlow]

2. But...but...

what about the beer tasting building at Seaworld?! I mean come on--priorities, people! (Okay, and the Clydesdales too--because they're so cute.)

[imdjh]

3. boycott foreign owned beer companies

God dammit! Can't we buy American on one fucking thing?

[liberal N proud]

4. Does that mean the Clydesdale's have to find a new home?

Or did they sell them too?


America, where everything is for sale including your vote and sole.