SeaWorld owner The Blackstone Group has received new bids for the business from Apollo Global Management and Onex Corp, as well as an existing approach from a consortium led buyout giant The Carlyle Group, Bloomberg reported.
It cited people familiar with the matter, one of whom said Blackstone anticipated better eventual returns from an IPO rather than a sale.
Back in December SeaWorld filed for a $100m public listing amid reports it could target up to $600m. It was also reported that Blackstone would have the right to nominate the majority of the board of directors as long as it continued to hold at least 50 per cent of common stock shares.
Blackstone bought SeaWorld from Anheuser-Busch InBev in a $2.7bn deal three years ago, when it was known as Anheuser-Busch Entertainment Corporation.
That investment was made from Blackstone Capital Partners V, the firm’s $21.7bn buyout fund raised in 2006.
BCP V had a net IRR of 1.57 per cent and cash multiple of 1.1 times at the end of June according to data from investors the Washington State Investment Board.
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