On March 24th, Blackstone sold its stake in SeaWorld Entertainment Inc. for $448.5 million to Zhonghong Group, a Chinese holding company that focuses on opportunities in the leisure and tourism space. Prior to the sale, Blackstone was SeaWorld’s largest shareholders with 19.5 million shares. Zhonghong Group agreed to purchase Blackstone’s stake in the theme park for $23 per share, which represents a 33% premium from the previous day’s closing price of $17.31.
SOFTBANK ACQUIRES FORTRESS INVESTMENT GROUP
On February 14th, SoftBank announced that it would acquire Fortress Investment Group: a private equity giant with $70 billion in assets under management. The Japanese conglomerate agreed to buy the asset management company for $3.3 billion, representing a 39% premium above the closing price of the stock on the day prior. J.P Morgan and Morgan Stanley served as financial advisers for SoftBank and Fortress, respectively.
KKR AND KSL CAPITAL ACQUIRE APPLE LEISURE GROUP
BLACKSTONE ACQUIRES TEAMHEALTH
On October 31st, TeamHealth agreed to be acquired by Blackstone for $43.5 per share. The offer represents a 33% premium since the board announced on October 3rd that it was exploring the possibility of selling the company to a private equity firm. On the day of the announcement, shares of TeamHealth jumped by 15%. Blackstone’s offer placed TeamHealth’s equity value at $3.2 billion.