Consumer & Retail | Corporate Finance Advisory, Sponsor Related

SeaWorld Repurchases Common Stock

  • The Special Committee of the Board of Directors of SeaWorld Entertainment, Inc. (NYSE: SEAS) retained TM Capital as financial advisor in connection with SeaWorld’s repurchase of $43.3 million of its common stock from The Blackstone Group L.P.
  • The repurchase was completed simultaneously with the closing of a $540 million secondary offering of SeaWorld common stock by Blackstone, which had been the majority shareholder of SeaWorld prior to this transaction
  • SeaWorld, with a market value of $2.6 billion, is a theme park and entertainment company operating a portfolio of 11 destination and regional theme parks under such major brands as SeaWorld®, Busch Gardens®, and Sesame Place®
  • TM Capital provided the Special Committee with an opinion regarding the fairness of the consideration paid for the common stock in the repurchase, and an opinion regarding the solvency of SeaWorld pro forma for the repurchase