Posted Friday, March 6, 2009 10:26 AM | Contributed by Jeff
Talks are under way to auction off Busch Entertainment Corp., the parent company of SeaWorld Orlando, Busch Gardens Tampa Bay and eight other theme parks around the country. Executives at newly merged beer giant Anheuser-Busch InBev said Thursday they are pressing forward with plans to sell at least $7billion in assets this year, with Orlando-based Busch Entertainment Corp. among them. Merlin Entertainment and Parques Reunidos are among possible players.
Read more from The Orlando Sentinel.
It was only a matter of time before this happened. I don't think this is a surprise to anyone. Isn't one of the reasons they waited this long, that they wanted to make sure everything regarding the take-over was finalized?
Looks like the end of an era. I don't see anyone taking care of Busch Gardens the way Busch Entertainment did.
Media has a way of over dramaticizing things. Do you really think the media would have an "announcement" before an announcement?
Honestly this news really is no different than the news 2 months ago.
The thing I find amusing and ironic is what they have sold as parts of "non core assets". Has anyone noticed that so far the "non core" assets sold have been stakes of other beer companies? Makes you wonder what is exactly core to the beer company.
Bottom line is they got into courting AB when things were so-so but not bad.. Recovery was expected to be a bit easier than reality dictated. Now the economy has continued its downward trend, especially when it comes to prospective buyers, and since IB-ABs FY is in April, its making their debts more a reality. Now they are looking for anything and everything within financial reason to sell. So far.. parks havent been given the dollar amount desired. Until such time I expect a few more of the same articles..Last edited by ridemcoaster, Friday, March 6, 2009 2:57 PM
Considering what they have done with Alton Towers and Legoland I am sure Merlin would not screw thing up.
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