Blackstone To Sell Up to 103.5M Hilton Shares
Blackstone is reducing its ownership share in Hilton Worldwide Holdings to below 50% through the sale of 90M shares. A Hilton spokesman said yesterday that underwriters could sell 13.5M shares on top of that. In that case, Blackstone's stake in the world's largest hotel operator would drop to 44.7% from 55.2%. Blackstone's 2007 leveraged buyout of Hilton is considered the most lucrative private equity investment in history. In March, the company said it was considering $1.3B in hotel acquisitions.