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Blackstone To Sell 50% Theme Park Stake

Blackstone Group is looking to sell its 50% stake in theme park, Universal Orlando, to NBCUniversal.

Blackstone Group is looking to sell its 50% stake in theme park, Universal Orlando, to NBCUniversal, The Wall Street Journal reports. NBCUniversal, which already owns 50% of the theme park, has until June 12, 2011 to accept Blackstone’s offer.

Blackstone will have 270 days to sell the theme parks to a third party if NBC Universal refuses to buy the stake. Blackstone purchased its 50% interest in the theme park in 2000 from Rank Group for $2.07 billion.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.

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