UPDATE: Blackstone Mulling InBev Amusement-Park Bid
September 23 2009 - 2:43PM
Dow Jones News
Blackstone Group LP (BX) is looking into a possible deal to buy
Anheuser-Busch InBev NV's (BUD) theme parks, a person familiar with
the matter said Wednesday.
InBev, which bought Anheuser-Busch last year, has been looking
for months to find a buyer for theme parks operated under Busch
Entertainment Corp. The amusement parks include SeaWorld and Busch
Gardens.
Any deal would allow InBev to pay down debt incurred from its
$52 billion acquisition of Anheuser-Busch. The deal would also
expand Blackstone's global theme-park holdings, which already
includes stakes in Universal Orlando and Madame Tussauds wax
museum.
The acquisition of Anheuser-Busch's theme-park holdings would
fold nicely into Blackstone's London-based Merlin Entertainments
Group. There has been talk that Blackstone intends to list the
theme-park operator on the London Stock Exchange sometime this
year.
An initial public offering for Merlin, which operates Legoland
theme parks, could be made more enticing with the addition of Busch
Entertainment. Analysts have estimated a Busch sale could fetch
between $2 billion and $5 billion.
In addition to Merlin, Blackstone owns 50% of Universal Orlando
alongside NBC Universal.
No deal was expected imminently.
Anheuser-Busch InBev couldn't be reached for comment.
-By Joe Bel Bruno, Dow Jones Newswires; 212-416-2469;
joe.belbruno@dowjones.com