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

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

The Truth About Track Record Portability

Jul 24 2014 | 5:55am ET

The number of private funds converting to mutual funds has increased significantly...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note