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Blackstone To Sell Remaining Stake In Hilton Worldwide


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(RTTNews.com) - Hilton Worldwide Holdings Inc. (HLT) said that certain selling stockholders affiliated with The Blackstone Group L.P. have informed the company that they have agreed to sell 15.80 million shares of Hilton's common stock in privately negotiated transactions pursuant to Hilton's effective shelf registration statement.

Following the closing of the sale of such shares, the repurchase by Hilton of 1.25 million shares as described below and the distributions of the remaining 214,503 shares of Hilton common stock held by the selling stockholders to their respective partners, The Blackstone Group L.P. and its affiliated funds will no longer beneficially own any shares of Hilton's common stock.

Hilton did not offer any shares of common stock in the transaction and will not receive any proceeds from the sale of shares by the selling stockholders.

In addition, Hilton announced that it intends to repurchase an aggregate of 1.25 million shares directly from the selling stockholders.


Read the original article on RTTNews (http://www.rttnews.com/2896672/blackstone-to-sell-remaining-stake-in-hilton-worldwide.aspx)


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This article appears in: World Markets , Technology , US Markets , Stocks
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