Blackstone has sold the stake in the Orlando-based company to China’s Zhonghong Group for $23 per share. Zhonghong bought luxury UK tour operator Abercrombie & Kent in July last year.
As part of the deal, SeaWorld will advise Zhonghong on the development of “theme parks, water parks and family entertainment centres” in China, Taiwan, Hong Kong and Macau. It is unclear how many of these will include animal attractions.
The tide has somewhat turned against SeaWorld’s work with orca whales and other animals in captivity in recent years.
Yoshikazu Maruyama, president of Zhonghong Group’s American operation said: “We are delighted to engage with SeaWorld to bring this iconic, world-class family entertainment brand to China.
“SeaWorld’s commitment to inspiring guests to protect animals and our oceans is increasingly relevant to people all around the world."
The agreement contains restrictions on Zhonghong Group’s ability to sell its interest in SeaWorld for a period of two years and limitations on its ability to acquire more than 24.9% of SeaWorld’s outstanding shares without the approval of SeaWorld’s directors.
