Cedar looking to sell – newspaper
Among the private equity companies approached, allegedly, is the Blackstone Group, owner of the Merlin Entertainment Group and a major stakeholder in the Universal Orlando resort.
Cedar Fair effectively doubled in size with last year’s acquisition of the Paramount Parks chain from CBS in a US$1.24bn deal. The company has a market capitalisation of $1.5bn and debts of over $1.8bn, which may put potential buyers off.
It is thought that any sale will only be effected if the current management team is retained.