• May 25, 2004

    Private Equity Consortium Consisting of First Reserve, Blackstone and AMCI Agrees to Acquire Leading U.S. Coal Producer

    New York, May 25, 2004 – A private equity consortium consisting of First Reserve Corporation, The Blackstone Group, and American Metals & Coal International (AMCI) has entered into a definitive agreement to buy RAG American Coal Holding, Inc. from RAG Coal International for a purchase price of approximately $1 billion.
  • May 20, 2004

    Stephen A. Schwarzman Named Chairman of the Board of Trustees of the Kennedy Center

    WASHINGTON, D.C.—May 20th, 2004. Kenneth M. Duberstein and Alma Johnson Powell, Interim Co-Chairs of the John F. Kennedy Center for the Performing Arts, today announced the election of Stephen A. Schwarzman as Chairman of the Board of Trustees. Mr. Schwarzman is President, CEO and Co-Founder of The Blackstone Group, a global investment and advisory firm headquartered in New York City. He will assume his Kennedy Center responsibilities immediately. Mr. Schwarzman succeeds James A. Johnson, who stepped down from the Chairmanship this past January.
  • May 18, 2004

    Freedom Recapitalization Completed

    IRVINE, Calif. – May 18, 2004 – Freedom Communications, Inc. said that its recapitalization in association with two private equity firms, The Blackstone Group and Providence Equity Partners, originally announced on Oct. 14, 2003, was completed today after various regulatory, governance and financing conditions were met.
  • May 17, 2004

    Michael Dugan Joins The Blackstone Group

    New York/London: May 17, 2004: The Blackstone Group today announced that Michael P. Dugan has joined the firm’s Corporate Advisory Group as a Senior Managing Director, bringing with him over 20 years experience advising industrial clients on strategic and capital structuring issues in both North America and Europe.
  • May 11, 2004

    The Blackstone Group Completes Acquisition of Extended Stay America, Inc.

    Spartanburg, SC – May 11, 2004 – Extended Stay America, Inc. announced today that it has completed its merger with an affiliate of The Blackstone Group. Under the terms of the merger agreement, ESA stockholders will receive $19.625 per share in cash, without interest.
  • May 06, 2004

    Blackstone Advises Imperial Parking on Sale to The Gates Group

    NEW YORK - May 6, 2004 - Imperial Parking Corporation ("Impark") (AMEX:IPK) has announced that it has been acquired by Imperial Parking Management, LLC, an affiliate of The Gates Group, LLC, a private equity firm based in Cleveland, Ohio ("Gates"). Completion of the transaction followed Impark's shareholder meeting held on April 29, 2004, at which Impark shareholders approved the proposed merger, and the satisfaction of all other remaining closing conditions.
  • May 05, 2004

    Blackstone Advises Travelweb on Sale to Priceline.com

    New York, May 5, 2004: Travelweb LLC has announced the sale of 71.4% of the equity interests in Travelweb to Priceline.com. This brings Priceline.com's total ownership in Travelweb to 85.7%.
  • Apr 05, 2004

    Leading International Property Investment & Advisory Group Agrees to Acquire The Savoy Group

    London & Dublin, April 5, 2004: A group of investors led by Quinlan Private, a leading international property investment and advisory group, has agreed to acquire The Savoy Group (the “Group”) from The Blackstone Group (“Blackstone”) and Colony Capital LLC (“Colony”) for a consideration of £750 million or approximately US$1.37 billion. The transaction will close on or before May 8. Following the acquisition, Quinlan Private looks forward to working with the management team of The Savoy Group and each hotel will retain its distinct identity.
  • Apr 01, 2004

    BCP Crystal Acquisition GmbH & Co. KG Announces Final Results of Celanese

    Hamilton, Bermuda, December 3, 2003 – Aspen Insurance Holdings Limited (“Aspen”) today announced that the initial public offering of 10,524,000 of its ordinary shares was priced at $22.50 per share. The underwriters also have an option to purchase up to an additional 1,578,600 shares to cover over-allotments. All of the proceeds of the offering, after deducting the underwriting discounts and commissions and the offering expenses, will go to Aspen. The shares are expected to begin trading on the New York Stock Exchange on December 4, 2003 under the symbol “AHL”.
  • Apr 01, 2004

    Celanese Acquired by Blackstone

    Stuttgart/New York, April 1, 2004 – BCP Crystal Acquisition GmbH & Co. KG, Stuttgart, announced today the final results of its voluntary public take-over offer for all outstanding registered ordinary shares with no par value of Celanese AG, Kronberg im Taunus, at a price of EUR32.50 per share. A total of 83.6% of all outstanding Celanese shares, excluding treasury shares, were validly tendered and not withdrawn as of the end of the acceptance period.
  • Mar 31, 2004

    Blackstone Adds Focus to Portfolio Company Monitoring

    New York, March 31, 2004: The Blackstone Group announced today the appointment of James A. Quella as Senior Managing Director responsible for monitoring the strategy and operational performance of Blackstone’s private equity portfolio companies. He will also serve on Blackstone’s private equity investment committee Mr. Quella joins Blackstone from DLJ Merchant Banking Partners and CSFB Private Equity where he was Managing Director and Senior Operating Partner. Prior to that he served as a senior consultant to CEOs and senior management teams with Mercer Management Consulting and its predecessor firm, Strategic Planning Associates.
  • Mar 30, 2004

    Blackstone Announces Preliminary Celanese Results

    Stuttgart, March 30, 2004 – Based on preliminary results received to date, BCP Crystal Acquisition GmbH & Co. KG, Stuttgart, appears to have successfully reached the minimum tender threshold required to complete its voluntary public take-over offer for all outstanding registered ordinary shares with no par value of Celanese AG, Kronberg im Taunus, at a price of EUR32.50 per share. BCP Crystal Acquisition GmbH & Co. KG is a German limited partnership controlled by a group of funds advised by The Blackstone Group.
  • Mar 12, 2004

    BCP Crystal Acquisition GmbH & Co. KG Announces Reduction of Minimum Acceptance Condition and Extension of Acceptance Period for Celanese AG Takeover Offer

    Stuttgart, March 12, 2004 – BCP Crystal Acquisition GmbH & Co. KG (the “Bidder”) today announced that it has reduced the minimum acceptance condition applicable to its voluntary public takeover offer for all outstanding registered ordinary shares with no par value of Celanese AG, Kronberg im Taunus (the “Celanese Shares”) at an offer price of EUR32.50 per share in cash, without interest.
  • Mar 12, 2004

    RCN Retains The Blackstone Group as Financial Advisor

    PRINCETON, NJ – March 12, 2004 – RCN Corporation (Nasdaq: RCNC) announced today that it has retained the Blackstone Group as financial advisor in connection with its continuing negotiations, with its senior secured lenders, members of an ad hoc committee of noteholders of its senior notes and others, towards a successful financial restructuring of its balance sheet and possible capital raising opportunities. Merrill Lynch will no longer advise the company in this capacity.
  • Mar 10, 2004

    BCP Crystal Acquisition GmbH & Co. KG and Celanese AG Clear European Union Merger Concentrations

    March 10, 2004 – BCP Crystal Acquisition GmbH & Co. KG (the “Bidder”) has been notified by the European Commission that they have cleared the Bidder’s proposed acquisition of Celanese AG. Clearance by the European Commission was one of the necessary conditions for the Bidder to consummate its tender offer for Celanese AG. The Bidder has previously been granted early termination of the waiting period under the Hart-Scott-Rodino Act and has received an Advance Ruling Certificate in Canada and the approval of the Vermont insurance regulatory authority in connection with the change in ultimate beneficial ownership of Celwood Insurance Company, a subsidiary of Celanese AG. Consummation still remains subject to certain other conditions, including at least 85% of the outstanding registered ordinary shares of Celanese AG being tendered into the offer.
  • Mar 05, 2004

    The Blackstone Group to Acquire Extended Stay America, Inc.

    Spartanburg, SC – March 5, 2004 – Extended Stay America, Inc. (NYSE: ESA) announced today that it had signed a definitive agreement to be acquired by affiliates of The Blackstone Group for $19.625 per share. The price represents a premium of 24% over the closing price of $15.81 today and an increase of 204% for shareholders since the initial public offering on December 15, 1995. The total value of the transaction, including debt, is over $3.1 billion. ESA currently operates 475 extended-stay hotels in 42 states and has been the fastest growing owned and operated hotel company since its founding in January 1995.
  • Feb 24, 2004

    Jones Lang LaSalle Announces Sale of Hyatt Regency Washington to Blackstone

    WASHINGTON, DC, February 24, 2004 – Jones Lang LaSalle Hotels has arranged the sale of the Hyatt Regency Washington, D.C. on Capitol Hill on behalf of SHC Capitol, LLC to BRE/Capitol Hill LLC (an affiliate of the Blackstone Group) for an undisclosed price.
  • Feb 16, 2004

    RAG Coal International Sets Stage for Sale of All Foreign Mining Operations

    Essen, 16 February 2004 – Within a few weeks RAG Coal International AG has cleared the way for the sale of all its foreign mining operations. RAG Coal International has signed a memorandum of understanding for the sale of RAG American Coal Holding, Inc. which provides for a period of exclusive negotiations with a U.S.-based private equity consortium consisting of First Reserve Corporation, The Blackstone Group and American Metals & Coal International (AMCI).
  • Feb 11, 2004

    Kosmos Energy Establishes Exploration and Production Venture in West Africa

    James C. Musselman, former Triton Energy CEO, leads new company supported by investors Warburg Pincus and The Blackstone Group Kosmos Enters West African Exploration Venture With Pioneer DALLAS, Texas, February 11, 2004 - Kosmos Energy, LLC announced today that it has received provisional commitments of up to $300 million from company management, Warburg Pincus and Blackstone Capital Partners, an affiliate of The Blackstone Group, to pursue the acquisition, exploration and development of oil and gas ventures in West Africa. The company also announced an agreement with Pioneer Natural Resources Company (NYSE: PXD) to jointly explore an area along the west coast of Africa extending from Morocco in the north through Angola in the south.
  • Feb 10, 2004

    Maguire Properties Agrees to Acquire Park Place in Orange County, California for $260 Million

    LOS ANGELES, February 10, 2004 – Maguire Properties (NYSE:MPG), a real estate investment trust, today announced that it has entered into an agreement with an affiliate of Blackstone Real Estate Advisors to acquire Park Place in Orange County, California. The purchase price is approximately $260 million including the assumption of the existing mortgage and mezzanine financing of approximately $164 million. The acquisition is expected to close in the first quarter.