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HomeBusinessSeaWorld Leisure Inc. affords to purchase Cedar Truthful for $3.4 billion

SeaWorld Leisure Inc. affords to purchase Cedar Truthful for $3.4 billion

Former Sea World coach Nico Maragos waves to the group throughout a dolphin present at Sea World.

SeaWorld Leisure Inc. has supplied to buy Sandusky-based amusement park operator Cedar Truthful Leisure Co.

The information outlet Bloomberg reported the proposal was for $3.4 billion, citing unnamed sources. SeaWorld operated SeaWorld Ohio in Aurora till 2007.

Cedar Truthful confirmed it has acquired an unsolicited non-binding proposal.

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“In line with its fiduciary duties, and in session with its unbiased authorized and monetary advisors, the Cedar Truthful Board of Administrators will rigorously overview and think about the proposal to find out the plan of action that it believes is in the most effective curiosity of the Firm and its unitholders. Cedar Truthful unitholders don’t have to take any motion at the moment,” the corporate acknowledged.

Cedar Truthful operates 13 amusement parks throughout the nation, together with Cedar Level in Sandusky and Kings Island exterior Cincinnati in Ohio. It claims annual income of $1.3 billion.

SeaWorld Leisure owns eight theme parks and 4 water parks throughout the nation.

Cedar Truthful bought the previous Sea World Ohio property, together with the previous Geauga Lake amusement park in Aurora and Bainbridge Township. The whole 377-acre property was offered by Cedar Truthful in 2020 to the Cleveland-based growth agency Industrial Industrial Properties.

The land is in varied phases of approval for retail, business and residential growth.

Geauga Lake: Geauga Lake’s subsequent growth part underway with retailers, places of work and houses deliberate

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Eric Marotta will be reached at 330-541-9433, or [email protected] Observe him on Twitter @MarottaEric.

This text initially appeared on Akron Beacon Journal: SeaWorld seeks buy of Cedar Level, Kings Island proprietor

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