Posted Monday, December 17, 2012 10:59 AM | Contributed by VitaminsAndGravy
SeaWorld Parks and Entertainment, the family entertainment company controlled by private equity firm Blackstone Group, is close to filing for an initial public offering, Reuters reported. Orlando, Florida-based SeaWorld, perhaps best known for its performing killer whale Shamu, has selected Goldman Sachs Group Inc. and JPMorgan Chase & Co. to lead the offering, which could come in early 2013. SeaWorld may try to raise $500 million to $600 million in the IPO.
Read more from Reuters.
Might buy a few coasters. ;)
There aren't a lot of IPO's when you look at it on a yearly basis. Obviously there were only a few dozen in 2008, and it has recovered a bit, but it's still a big deal. I never really thought about this as the end game for Blackstone. I couldn't find what they bought the parks for.
$2.3 billion is what I read.
It's right in the article.
Blackstone acquired SeaWorld from beer giant Anheuser-Busch InBev SA (ABI.BR) in December 2009 for $2.3 billion, according to Blackstone’s website.
Oops. I was scanning for "billion" and completely missed it.
For the porpoises of this thread, IPO stands for Initial Penguin Offering (typically measured in pounds of fresh fish).
If I could +1 you I would. I am la-fin my head off.
Puns that funny sometimes make me blowhole milk out my my nose.
If you like those puns, Travis...find a song by comedian Kip Adotta(sp?) called Wet Dream. I guarantee there'll be more milk coming outta yer nose than you'll find on a dairy farm.
With a title like that, are you sure it's milk?
Blackstone is a private equity company, and as such, their end game on any acquisition is almost always to take the company public, cash out, and move on.
Or sell it at a profit.
But what is step 2?
I bet they'd wait and sea what parks are driving the most revenue, build up those parks sub-stantially, then ship all the mediocre attractions to the lamer ones.
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