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Seaworld Parks & Entertainment Possible Sale, Merger, or Restructuring


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  • 4 weeks later...

God PLEASE, do not let Six Flags get their hands on Busch Gardens. The last thing they need is to become "Superhero Land" with all the trees cut down and falling into disrepair. The current owners are not the greatest and have made some horrible decisions and budget cuts, but they are at least keeping the theming in tact and keeping what they do have in decent shape. I so miss the days of Anheuser-Busch.

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22 hours ago, RobertDavid said:

God PLEASE, do not let Six Flags get their hands on Busch Gardens. The last thing they need is to become "Superhero Land" with all the trees cut down and falling into disrepair. The current owners are not the greatest and have made some horrible decisions and budget cuts, but they are at least keeping the theming in tact and keeping what they do have in decent shape. I so miss the days of Anheuser-Busch.

 

Don't worry, it ain't happening.  It was just another one of those pesky rumors.

 

That aside, BGT filed for permits.  Gwazi RMC Conversion.  God Bless us everyone.

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  • 4 months later...

According to several SEC filings today, Zhonghong defaulted on it's Seaworld loans and all shares (19,452,063) held by the holding company SunWise (UK) have transferred to PAG Holdings Ltd.  PAG Holdings Ltd. is an affiliate of Pacific Alliance Group.  As a result, the board has asked Yongli Wang to resign from the board and decided to decrease the number of board members from 9 to 8.  The number of board members will soon drop to 6 after the terms of 2 retiring board members expire.

 

With Zhonghong out of the way, keep an eye on activist investor and board member Scott Ross and his company Hill Path Capital.  Hill Path Capital owns 16.62% of Seaworld shares as of Dec. 30, 2018.

https://www.seaworldinvestors.com/corporate-governance/board-of-directors/person-details-bod/default.aspx?ItemId=f01eb946-7c0b-40d8-a6b8-b99c93f17751

 

Note that Richard Golding, the current Chairman of the Board at Parques Reunidos, is also an operating partner at Hill Path Capital.

https://www.parquesreunidos.com/en/the-group/board-of-directors/

Edited by Medusa42
fixed typo
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  • 2 weeks later...

A new SEC filing was published today and it looks like PAG Holdings Ltd. is offering its 23.1% stake in Seaworld stock (19,452,063 shares) for sale through transfer agent Lord Central Opportunity V Limited

http://d18rn0p25nwr6d.cloudfront.net/CIK-0001564902/53c02144-ee49-47f8-b0ba-71f502295ab8.pdf

 

Through a previous agreement between Seaworld and the transfer agent, the shares are restricted from being sold to the following entities:

- Walt Disney Parks and Resorts

- Universal Studios

- Six Flags, Inc.

- Cedar Fair Entertainment Company

- Merlin Entertainments Group Ltd.

- Herschend Family Entertainment

http://d18rn0p25nwr6d.cloudfront.net/CIK-0001564902/e5397eef-7b8d-4077-9a07-fa52bffbe07e.pdf

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  • 2 weeks later...

Hill Path Capital just made it's move for control of the company.

 

https://seekingalpha.com/news/3467042-seaworld-entertainment-announces-share-deals

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SeaWorld Entertainment announces share deals

May 28, 2019 7:25 AM ET|About: SeaWorld Entertainment, Inc. (SEAS)|By: Clark Schultz, SA News Editor 


SeaWorld Entertainment (NYSE:SEAS) discloses that it entered into an agreement to acquire ~5.6M shares for approximately $150M from an affiliate of PAG. In addition, it entered an agreement with Hill Path Capital for certain of its affiliated investment funds to acquire ~13.2M shares from an affiliate of PAG to increase its equity stake in SeaWorld to ~34.5%.

In connection with the closing of Hill Path's purchase of shares, SeaWorld agreed to appoint up to three Hill Path director designees to its board of directors.

 

The company says the buyback reinforces the board's commitment to opportunistically use excess capital to return value to shareholders. "Our improving financial and operating results over the past several quarters demonstrate that we are on the right track to deliver further value to shareholders," notes CEO Yoshikazu Maruyama.

 

Source: Press Release

 

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  • 3 months later...

3 Park Presidents have left the company this year.

https://behindthethrills.com/2019/09/seaworld-san-antonio-president-carl-lum-joins-list-of-leaving-seaworld-executives/

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SeaWorld San Antonio Park President Carl Lum is reportedly out, joining a growing list of park executives that have left the company in recent months.

 

This change comes alongside a wave of changes for SeaWorld Entertainment as a whole. In February 2019, Gus Antorcha joined the company as CEO, replacing John Reilly, the former interim CEO and park president of Busch Gardens Williamsburg and SeaWorld San Diego. Reilly resigned a month later. In April 2019, Mark Pauls resigned from his post as Park President of SeaWorld and Aquatica Orlando. In July, the Park President of Busch Gardens Williamsburg, Kevin Lembke, left “to pursue other opportunities.”

 

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