Blackstone Fund sells all its Hilton shares for $1.3 billion

Blackstone Fund sells all its Hilton shares for $1.3 billion
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The American investment fund Blackstone sells all its shares — 15.8 million — of the Hilton Worldwide Holdings Inc. hotel chain, Interfax news agency reports on Friday, citing a Hilton press release.

The amount of the deal is estimated at about $1.3 billion. Hilton intends to buy out just 1.25 million shares from the said stake. As a reference, Blackstone acquired Hilton for $6.5 billion in 2007 and delisted the company, but after an unsuccessful period for the company, it placed its shares again in 2013.

Since 2014, Blackstone has been gradually getting rid of Hilton shares. The largest transaction was completed in 2017 when the Chinese conglomerate HNA Tourism Group acquired 25% of hotel chain securities for $6.5 billion.

As reported, in April of 2018, HNA Group decided to sell 63.05 million shares of Hilton Worldwide, which owns the Hilton hotel network, as part of the secondary offering of securities on the open market. It was assumed that the sale of shares would bring HNA more than $6 billion.