Blackstone To Sell Hilton Stake In $1.25B IPO

Sep 12 2013 | 11:44am ET

The Blackstone Group aims to raise more than $1 billion selling shares in hotel giant Hilton Worldwide Holdings.

Hilton filed for an initial public offering today, seeking $1.25 billion. The money would go to paying down debt and will allow Blackstone to begin profiting on its $7 billion investment.

The private-equity firm will retain a majority of Hilton's voting shares after the IPO.

It remains unclear how many shares Hilton will sell, or at what price. Bank of America, Deutsche Bank, Goldman Sachs and Morgan Stanley will run the IPO.

Blackstone bought the McLean, Va.-based company in 2007 for $26 billion, including debt. Prior to the IPO, Hilton will refinance some $13.5 billion in debt.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR