After months of negotiations, Anheuser-Busch InBev announced this morning that it will sell Busch Entertainment Corp. to the Blackstone Group for as much as $2.7 billion. Blackstone, the New York-based private-equity giant, will pay AB InBev $2.3 billion in cash plus give the beer brewer a right to participate in its return on investment up to $400 million.
The Blackstone Group owns Merlin Entertainments. Merlin operates many theme parks, including the Legoland chain of parks. Blackstone is also part owner of the Universal Orlando Resort – so they do have some experience in running very successful theme parks.
Blackstone pledged to continue spending money on new attractions and other additions for the Busch properties, which also include SeaWorld parks in San Diego and San Antonio and Busch Gardens parks in Tampa and Williamsburg, Va. It also said it intends to give Busch Entertainment executives relatively free rein in day-to-day management.
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