United States: AB InBev closes Busch Entertainment Corporation sale

World’s No. 1 brewer Anheuser-Busch InBev and The Blackstone Group announced on December, that they have closed the previously announced transaction for Blackstone Capital Partners V L.P. (Blackstone) to purchase Busch Entertainment Corporation from Anheuser-Busch InBev, for up to USD 2.7 billion.

In accordance with the agreement, the purchase price is comprised of a cash payment of USD 2.3 billion and a right to participate in Blackstone’s return on its initial investment capped at USD 400 million. Busch Entertainment Corporation is now known as SeaWorld Parks & Entertainment.

BofA Merrill Lynch, Barclays Capital, Blackstone Advisory & Restructuring Partners, Deutsche Bank Securities Inc. and Goldman Sachs acted as financial advisors to Blackstone. Simpson Thacher & Bartlett LLP acted as legal counsel to Blackstone.

J.P. Morgan and Lazard acted as financial advisors to Anheuser-Busch InBev. Sullivan & Cromwell LLP acted as legal counsel to Anheuser-Busch InBev.

04 December, 2009