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BRIEF-Seaworld entertainment inc announces long-term investment by Zhonghong Group
March 24, 2017 / 11:05 AM / 9 months ago

BRIEF-Seaworld entertainment inc announces long-term investment by Zhonghong Group

March 24 (Reuters) - Seaworld Entertainment Inc:

* Seaworld Entertainment Inc announces long-term investment by zhonghong group

* Seaworld - unit of Zhonghong will acquire about 21pct equity interest in Seaworld from certain funds affiliated with blackstone at $23.00 per share

* Seaworld Entertainment Inc - upon closing of transaction, seaworld will increase size of its board to 11

* Seaworld Entertainment Inc - unit of Zhonghong Zhuoye Group Co Ltd. Will acquire an approximately 21pct equity interest in Seaworld

* Seaworld Entertainment- following closing , blackstone and affiliates will no longer hold any interests in seaworld or have seats on board

* Seaworld entertainment - zhonghong group executives yoshikazu maruyama and yongli wang will join seaworld board

* Seaworld Entertainment - agreement contains certain restrictions on Zhonghong Group’s ability to sell its interest in Seaworld for period of two years

* Seaworld Entertainment-deal contains limitations on zhonghong’s ability to acquire more than 24.9pct of shares without approval of independent directors Source text for Eikon: Further company coverage:

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