March 24 China-based Zhonghong Zhuoye Group Co
Ltd will buy Blackstone Group LP's 21 percent stake in
SeaWorld Entertainment Inc, the embattled U.S.-based
marine park operator said on Friday.
SeaWorld said Zhonghong will buy the stake for $23 per
share, a premium of nearly 33 percent to the stock's close on
Zhonghong – a diversified holding company for investments in
real estate, leisure and tourism – will pay about $429 million
for the stake, according to Reuters calculations.
SeaWorld faced criticism after the release of the 2013
documentary "Blackfish," which depicted the captivity and public
exhibition of killer whales as inherently cruel. The company
said last year it would stop breeding killer whales in
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by