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U.S. markets recover from steep losses
NEW YORK, Oct. 7 (UPI) -- New York private equity firm Blackstone Group said it had agreed to buy Busch Entertainment Corp. from Anheuser-Busch InBev for $2.7 billion.
The world's largest brewer is selling its entertainment group to help pay for the merger that combined the U.S. beer giant with Europe's InBev last year.
In Florida alone, Busch Entertainment employs 10,000 people and runs SeaWorld, Aquatica, and Discovery Cove. It operates 10 theme parks nationwide as the second larges theme park company, the Orlando, Fla., Sentinel reported Wednesday.
Blackstone already has a hand in the theme park business, as 50 percent owner of Universal Orlando and owner of Merlin Entertainments Group, which runs Legoland theme parks and Madame Tussauds Wax Museums, the newspaper said.
Joseph Baratta, a senior managing director at Blackstone,said, "we have deep sector experience and look forward to working with the excellent BEC management team to continue to invest in and grow the company."
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