This was sort of expect due to Merlin expanding into the USA.
Blackstone are looking to sell their 50% in Univsrsal Studios Orlando.
Blackstone, which bought into the theme park in 2000, has set in motion a right of first refusal clause that gives NBC Universal until June 12 to make a decision. NBC Universal owns the remaining 50 percent of the park.
Should NBC Universal turn down the deal, Blackstone can then approach third parties and attempt to sell all of Universal Orlando, according to terms of the contract.
Blackstone's interest in selling Universal Orlando was disclosed in a regulatory filing earlier this week by Universal City Development Partners Ltd, a holding company formed to oversee the park.
The filing said private equity firm Blackstone informed Universal City Development Partners on March 9 of its intentions. The asking price was not disclosed.
Blackstone's purchased its stake from the Rank Group for $275 million in cash, plus other potential payments based on certain performance criteria.
A spokeswoman for NBC Universal, which is controlled by Comcast Corp, said, "We are studying the proposal and considering our options."
Last year, Universal Orlando opened the Wizarding World of Harry Potter, based on the blockbuster movie and book series. The 20-acre Harry Potter park reportedly cost $250 million to build and recreates the Hogwarts School of Witchcraft and Wizardry and other places dreamed up by author J.K. Rowling in her fantasy novels about the boy wizard and his friends.
Helped by the attraction, Universal Orlando's park attendance rose by about 20 percent in 2009, when the travel industry was reeling from recession. Revenue last year rose 40 percent to $1.13 billion.
http://www.reuters.com/article/2011/03/ ... I320110316
Blackstone are looking to sell their 50% in Univsrsal Studios Orlando.
Blackstone, which bought into the theme park in 2000, has set in motion a right of first refusal clause that gives NBC Universal until June 12 to make a decision. NBC Universal owns the remaining 50 percent of the park.
Should NBC Universal turn down the deal, Blackstone can then approach third parties and attempt to sell all of Universal Orlando, according to terms of the contract.
Blackstone's interest in selling Universal Orlando was disclosed in a regulatory filing earlier this week by Universal City Development Partners Ltd, a holding company formed to oversee the park.
The filing said private equity firm Blackstone informed Universal City Development Partners on March 9 of its intentions. The asking price was not disclosed.
Blackstone's purchased its stake from the Rank Group for $275 million in cash, plus other potential payments based on certain performance criteria.
A spokeswoman for NBC Universal, which is controlled by Comcast Corp, said, "We are studying the proposal and considering our options."
Last year, Universal Orlando opened the Wizarding World of Harry Potter, based on the blockbuster movie and book series. The 20-acre Harry Potter park reportedly cost $250 million to build and recreates the Hogwarts School of Witchcraft and Wizardry and other places dreamed up by author J.K. Rowling in her fantasy novels about the boy wizard and his friends.
Helped by the attraction, Universal Orlando's park attendance rose by about 20 percent in 2009, when the travel industry was reeling from recession. Revenue last year rose 40 percent to $1.13 billion.
http://www.reuters.com/article/2011/03/ ... I320110316