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SeaWorld Theme
Parks Sell for $2.3 Billion
ORLANDO (Associated Press) October 8,
2009 — Anheuser-Busch InBev said Wednesday it will sell its theme parks,
including its three SeaWorlds and two Busch Gardens, to private equity firm
Blackstone Group for at least $2.3 billion.
Based in Belgium, the world's largest brewer has been shedding assets to help
pay for the $52 billion takeover of St. Louis-based Anheuser-Busch that formed
the company last year.
The two sides confirmed the deal Wednesday, saying Blackstone will pay $2.3
billion in cash and give Anheuser-Busch InBev the right to up to $400 million of
Blackstone's initial returns.
New York-based Blackstone's investments include Universal Studios Orlando and
Madame Tussauds wax museums so the theme parks fit into its portfolio.
Anheuser-Busch InBev's Busch Entertainment Corp. consists of 10 amusement parks,
including its SeaWorld, Sesame Place and Adventure Island parks.
It is considered the second-largest entertainment park operator in the U.S.,
after Walt Disney Co., with about 25 million visitors a year and 25,000
employees.
Blackstone sees opportunity investing in media and entertainment businesses,
officials said.
It's not clear how much the business is worth. But according to Anheuser-Busch
InBev's annual report from 2008, the entertainment unit had pro-forma revenue of
about $1.37 billion.
Busch Entertainment will maintain its headquarters in Orlando and for now will
retain the Busch name, company officials said.
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