Stockholders with The Blackstone Group announced that the company has agreed to sell its remaining 15.8 million shares of Hilton common stock “in privately negotiated transactions pursuant to Hilton’s effective shelf registration statement.”
MCLEAN, Va. - Hilton Worldwide Holdings Inc. (“Hilton” or the “Company”) announced today that certain selling stockholders affiliated with The Blackstone Group L.P. have informed the Company that they have agreed to sell 15,800,000 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 1,250,000 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.
The sales of these securities were made pursuant to an effective shelf registration statement. The sales were privately negotiated directly with investors and were made only by means of a prospectus. A copy of the prospectus relating to these securities may be obtained at the Securities and Exchange Commission’s (“SEC”) website at http://www.sec.gov or from Hilton, 7930 Jones Branch Drive, Suite 1100, McLean, Virginia 22102, Attention: Investor Relations, telephone: 1-703-883-5476.
In addition, Hilton announced that it intends to repurchase an aggregate of 1,250,000 shares directly from the selling stockholders. The share repurchase will be effected in a private, non-underwritten transaction. The share repurchase is expected to be consummated concurrently with the sale of shares by the selling stockholders. The share repurchase has been approved by the audit committee of Hilton and is pursuant to, and will count toward, the Company's existing share repurchase program. The timing and method of any future repurchases, which will depend on a variety of factors, including market conditions and the Company's financial condition, are subject to the discretion of management.
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