Denver, CO, 06/12/2014 (Stocksntrade) – The Blackstone Group L.P. (NYSE:BX) is all set to harvest some cash by selling a stake in Hilton Worldwide Holdings Inc. (HLT). The company always tries to invest the money where it can get good profit and this time too, the patience has been paid off. This first sale of HLT is a step taken by BX to return some cash to the firm’s investor. The company is planning to sell its stake when the company has already seen an increase of 17% in its market value since the last IPO filed by the company in December.
Hilton, Finally, Hitting The Tail End
Hilton, on behalf of The Blackstone Group L.P. (NYSE:BX), has decided to sell 90 million shares. Overall, the market value has shoot up by 17% since it last raised $2.35 billion in its IPO files in December. Further, if the underwriters are able to seek the initial amount, they can also buy another 13.5 million shares. This move of selling a stake in hilton will bring BX down in Hilton from 76% to just 66%. BX filed an IPO of $2.35 billion in December and went on buying Hilton for $26 billion. This was BX’s ever largest investment and finally it is reaching its end after giving BX a boom.
Some Other IPOs
The Blackstone Group L.P. (NYSE:BX), in addition to selling some stakes in Hilton, is also planning to sell 25 million shares of Brixmor Property Group Inc. (BRX). Along with this, Extended Stay America Inc., which is a joint investment of Paulson & Co., Centerbridge Partners LP and BX, filed to sell its 21 million shares on behalf of BX and other shareholders. BX acquired Hilton in 2007 and with long patience exercised; it took the best out of this investment. BX’s CEO and Chairman, Stephen Schwarzman, made a statement that BX holds a huge potential and most probably it will continue to be the largest shareholder of Hilton for many years in future.