Los Angeles and Shanghai – Paul Hastings LLP, a leading global law firm, announced today that the firm represented Zhonghong Zhuoye Group (“Zhonghong”), a diversified holding company focused on strategic growth opportunities in the leisure, tourism, and culture industries, in acquiring an approximately 21% equity interest in SeaWorld from certain funds affiliated with Blackstone for approximately US$448 million.
Zhonghong has entered into a stockholders agreement with SeaWorld and, effective upon closing of the transaction, SeaWorld will increase the size of its Board to 11 and two Zhonghong executives will join the SeaWorld Board.
Upon receipt of regulatory approvals and satisfaction of other customary closing conditions, the transaction is expected to close in the second quarter of 2017.
The Paul Hastings team was led by M&A partners Robert Miller, Jia Yan and David Wang, and also included M&A partner Stephen Cooke, regulatory partner Scott Flicker, employment partner Stephen Harris, of counsel James Holden and associates Stan Kalminsky, Richard Jantz, Ting Wang and Tina Tan.
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.