China’s Zhonghong to become major SeaWorld shareholder

ORLANDO — China’s Zhonghong Zhuoye Group Co. agreed to acquire a 21 per cent equity stake in SeaWorld Entertainment Inc. from Blackstone Group, becoming the embattled U.S. theme-park operator’s largest shareholder. The stake the Asian leisure and tourism holding company is acquiring has a value of $429.1 million, according to Bloomberg data. SeaWorld CEO Joel Manby said Zhonghong’s long-term investment reflects confidence in the company’s brand and a shared commitment to “protect wildlife and the environment.” SeaWorld, which owns 12 theme parks, including its namesake attractions, has battled negative publicity following the 2013 release of the documentary “Blackfish,” which argued that killer whales shouldn’t be kept in captivity.