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

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of