AB InBev sells US attractions to Blackstone
ANHEUSER-Busch InBev yesterday said it had agreed to sell its US theme parks to private equity group Blackstone for up to $2.7bn (£1.6bn), as it offloads non-core businesses to help pay for its merger.
The world’s largest brewer, formed by InBev’s $52bn takeover last year of US rival Anheuser-Busch, has said it plans to raise $7bn from divestments to help pay off $45bn of loans.
The theme park deal would push it to within about $500m of that target.
Blackstone will acquire AB InBev subsidiary Busch Entertainment, which is the second-largest theme park operator in the United States.
It has 10 parks – including three SeaWorlds and two Busch Gardens – which attract some 25m visitors a year.
Blackstone will pay $2.3bn in cash on closing, as well as a further $400m depending on future profits at the parks. AB InBev did not say when it expected the deal to close.