WSJournal. 9 AM. SeaWorld Entertainment Files for IPO (SEAS)

http://online.wsj.com/article/SB1000142412788...lenews_wsj

Under a shortened name, SeaWorld Entertainment Inc. has filed plans for an initial public offering of common stock.

What is currently known as SeaWorld Parks & Entertainment Inc. is backed by private-equity firm Blackstone Group BX +0.33% LP. Talk of an IPO for the company picked up earlier this month, with a person familiar with the matter saying Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. had been hired to lead the offering.

Though the number of shares and the price range for offering haven't been determined, the filing pegged it at up to $100 million.

SeaWorld Entertainment said it intends to use the proceeds to pay Blackstone a one-time fee to end its advisory agreement and to redeem debt and for general corporate purposes. The company had about $1.83 billion of debt as of Sept. 30, according to its filing.

Belgian brewer Anheuser-Busch InBev NV ABI.BT +0.21% sold its theme-parks business to Blackstone for roughly $2.7 billion in December 2009. The operations include 11 entertainment parks, with brands such as SeaWorld, Busch Gardens and Sesame Place.

Blackstone will continue to own a majority of the common-stock voting power.

SeaWorld Entertainment swung to a profit of $19.1 million in 2011 as revenue climbed 11% to $1.33 billion.

The company intends to trade under the symbol SEAS .