• Aug 08, 2007

    Blackstone Second Quarter Earnings Conference Call Announcement

    New York, August 8, 2007: The Blackstone Group L.P. (NYSE:BX), announced today that it will host its second quarter investor conference call Monday, August 13, 2007 at 11:00 am ET. Tony James, President and Chief Operating Officer; Michael Puglisi, Chief Financial Officer; and Joan Solotar, Senior Managing Director – Public Markets, will review The Blackstone Group L.P.’s second quarter earnings.
  • Aug 07, 2007

    Park Hill Expands its Real Estate Group

    New York – August 7, 2007 – Park Hill Real Estate Group today announced that Michael Stark has joined as a Senior Managing Principal. Mr. Stark, who will be based in New York, will cohead the real estate placement group alongside founders Chuck Purse and Frank Schmitz.
  • Jul 16, 2007

    DJO Enters into Merger Agreement with ReAble Therapeutics, Inc.

    SAN DIEGO, CA and AUSTIN, TX July 16, 2007 – DJO Incorporated (NYSE: DJO), a global provider of products and services that promote musculoskeletal and vascular health, and ReAble Therapeutics, Inc., a diversified medical device company focused on rehabilitation, pain management, physical therapy and orthopedics, today announced the signing of an agreement and plan of merger under which an affiliate of ReAble will acquire all outstanding shares of DJO in a transaction valued at approximately $1.6 billion, including the assumption of debt. The agreement provides for a cash payment of $50.25 per share for each outstanding share of DJO common stock, representing a premium of approximately 25 percent over DJO’s average closing share price for the 30 trading days ended July 13, 2007. An affiliate of The Blackstone Group is the controlling shareholder of ReAble and has committed to provide the equity financing needed by ReAble to complete the transaction.
  • Jul 16, 2007

    Merlin and Prestbury - Sale and Lease Back Transaction

    July 16, 2007: Prestbury 1 Limited Partnership ("Prestbury") Nick Leslau's principle property investment vehicle, and Merlin Entertainments Group (“Merlin”), controlled by affiliates of the Blackstone Group LP, today announced that they have entered into a sale and leaseback in relation to certain of Merlin’s property assets including Madame Tussauds London, Thorpe Park, Alton Towers and Warwick Castle, for £622 million. The properties sold to Prestbury will be leased back to Merlin on 35 year renewable leases, and Merlin will continue to operate and invest in these very important businesses exactly as before. Merlin will use the proceeds from the property sale to help fund its ambitious three year €400 million development programme, across both its existing estate and new attractions; and to repay debt incurred to fund its recent purchase of The Tussauds Group. Merlin will retain substantial freehold property ownership in the UK, Europe and the USA including the property underlying its four LEGOLAND theme parks, Gardaland and many of its SEA LIFE attractions; giving the Group real balance and flexibility going forward.
  • Jul 13, 2007

    Blackstone Says The New York Times Inaccurate and Misleading

    Partners to Pay Over $900 million in taxes as a result of IPO NEW YORK, July 13, 2007 — Blackstone Group (NYSE: BX) said today that a front page article in The New York Times is filled with inaccuracies, myths, and misrepresentations that give a false impression of Blackstone’s tax situation and that of its partners.
  • Jul 03, 2007

    Hilton Hotels Corporation to be Acquired by Blackstone Investments Funds

    BEVERLY HILLS, Calif. – Hilton Hotels Corporation (NYSE:HLT) announced today that it has entered into a definitive merger agreement with The Blackstone Group’s (NYSE:BX) real estate and corporate private equity funds in an all-cash transaction valued at approximately $26 billion. Under the terms of the agreement, Blackstone will acquire all the outstanding common stock of Hilton for $47.50 per share. The price represents a premium of 40% over yesterday’s closing stock price.
  • Jul 01, 2007

    Blackstone Sells Global Towers to Macquarie

    OPERATOR, GLOBAL TOWER PARTNERS, FROM BLACKSTONE NEW YORK, July 1, 2007 – A consortium led by Macquarie Infrastructure Partners (MIP) and Macquarie Communications Infrastructure Group (MCG) today announced that it will acquire from the Blackstone Group 100% of leading U.S. wireless tower operator, Global Tower Partners (“GTP”) for an enterprise value of US$1,425 million.
  • Jun 25, 2007

    The Blackstone Group Selects Bear Wagner Specialists LLC to Trade Shares on NYSE

    NEW YORK, New York — June 26, 2007 — Bear Wagner Specialists LLC today announced that it was selected by The Blackstone Group (NYSE: BX) to trade its shares on the New York Stock Exchange. One of the world’s largest alternative asset managers, The Blackstone Group began trading on June 22, 2007.
  • Jun 21, 2007

    The Blackstone Group Prices $4.133 Billion Initial Public Offering

    New York, New York, June 21, 2007—Blackstone announced today that the initial public offering of 133,333,334 common units representing limited partner interests in The Blackstone Group L.P. has been priced at $31.00 per common unit. The common units are expected to begin trading tomorrow, June 22, 2007, on the New York Stock Exchange under the symbol “BX.” The Blackstone Group has granted the underwriters a 30-day option to purchase up to 20,000,000 additional common units at the public offering price less underwriting discounts.
  • Jun 14, 2007

    Blackstone Grows Real Estate Team

    New York, June 14, 2007: The Blackstone Group today announced the appointment of Michael Nash as a Senior Managing Director in the firm’s Real Estate Group. Mr. Nash’s principal role will be the development of new business initiatives within the real estate sector.
  • Jun 12, 2007

    The Lightstone Group Closes $8 Billion Acquisition of Extended Stay Hotels From The Blackstone Group

    Lakewood, NJ (June 12, 2007) – The Lightstone Group, LLC, one of the largest private real estate owners in the country, announced today that through an affiliate it closed its previously announced acquisition of Extended Stay Hotels from affiliates of The Blackstone Group for $8 billion.
  • Jun 12, 2007

    Blackstone Appoints Head of Public Market Activities

    New York, June 12, 2007: The Blackstone Group today announced the appointment of Joan Solotar as Senior Managing Director – Public Markets. Ms. Solotar will join Blackstone from Banc of America Securities where she has been a Managing Director and Director of Equity Research. She started her career in equity research at The First Boston Corporation in 1986 and prior to joining Bank of America was part of the financial services team at Donaldson, Lufkin & Jenrette and later with CSFB as a Managing Director.
  • Jun 08, 2007

    Gerresheimer to Float in Biggest IPO to Date in 2007

    Düsseldorf, 8 June 2007 – Gerresheimer AG, a world-leading specialist manufacturer of high quality glass and plastics for the pharma and life science industry, and the selling shareholder BCP Murano II S.à r.l. (BCP Murano), an indirect subsidiary of The Blackstone Group International Limited, together with the joint global coordinators and joint bookrunners, Credit Suisse and Morgan Stanley, today set the offer price for Gerresheimer’s Initial Public Offering at 40 euros per share. The shares are valued at the middle of the pricing range of 37 to 45 euros.
  • Jun 04, 2007

    Brian C. Cornell Named Chief Executive Officer of Michaels Stores

    Former Safeway and PepsiCo Executive Brings Strong Consumer Products Marketing Experience to Leading Crafts Retailer Irving, TX, June 4, 2007 – Michaels Stores, Inc., the world’s largest specialty retailer of arts, crafts, framing, floral, wall décor, and seasonal merchandise for the hobbyist and do-it-yourself home decorator, today announced that Brian C. Cornell has been named Chief Executive Officer of the company, effective June 4, 2007. Cornell most recently served as Executive Vice President and Chief Marketing Officer of Safeway, Inc. (NYSE: SWY), where he had responsibility for the merchandising, marketing, manufacturing, supply chain and online business.
  • Jun 03, 2007

    Alliant Insurance Services, Inc. to be acquired by Blackstone and Management

    Newport Beach, California/ New York: June 3, 2007 – Alliant Insurance Services, Inc., one of the nation’s largest insurance brokerage firms, today announced that The Blackstone Group, in partnership with Alliant’s management and employees, has reached an agreement to acquire the company from its current owners comprised of the investment firm Lindsay Goldberg and Alliant’s management and employees. Terms of the transaction were not disclosed.
  • May 30, 2007

    Tragus acquires leading Italian chain, Strada

    Tragus Limited (Tragus), one of the largest mid-market restaurant chain operators in the UK, is pleased to announce its acquisition of Strada for a total consideration of £140m. Debt facilities were provided by Barclays Capital and Tragus was advised on the transaction by Rothschild. Tragus will acquire all of Strada’s 50 contemporary Strada Italian restaurants and an additional 5 units trading as Belgo and Bierodrome. The Strada business operates primarily on the UK high street and has strong growth potential with a good pipeline of quality sites. Tragus sees ample opportunity to grow the business from its current level to circa 150 units in the UK.
  • May 22, 2007

    Merlin Entertainments Group A New Force in Global Leisure

    London, New York, Dubai – Tuesday 22nd May 2007: 8.30am (UK) Following approval (from EU Competition Authorities) the deal announced in March between Merlin Entertainments Group (“Merlin”), and The Tussauds Group has been completed today. This deal creates the world’s second biggest visitor attractions operator after Disney – Merlin Entertainments Group.
  • May 20, 2007

    China's State Investment Company to Acquire Non-Voting Minority Stake in Blackstone

    Beijing and New York, May 20, 2007 – The soon to be established state foreign exchange investment company (“State Investment Company”) in China and The Blackstone Group L.P. (“Blackstone”) announced today that the State Investment Company has agreed to make a $3 billion investment in Blackstone in the form of non-voting common units. The purchase price per common unit will be 95.5% of the public offering price in Blackstone’s planned initial public offering. The number of non-voting common units purchased by the State Investment Company will be reduced if necessary so that the State Investment Company’s equity interest in Blackstone immediately following the planned initial public offering remains under 10%. The State Investment Company has agreed to hold its investment in Blackstone for at least four years.
  • May 17, 2007

    Alliance Data Agrees To Be Acquired By The Blackstone Group For $7.8 Billion

    Alliance Data Will Become a Private Company; Senior Leadership Expected to Remain in Place and Continue its Focus on Delivering Value for Clients DALLAS, Texas (May 17, 2007) — Alliance Data Systems Corporation (NYSE: ADS), a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced that it has entered into a definitive agreement to be acquired by Blackstone Capital Partners V L.P., an affiliate of The Blackstone Group, in a transaction valued at approximately $7.8 billion, including the assumption of certain debt. Under the terms of the agreement, Blackstone will acquire all of the outstanding common stock of Alliance Data for $81.75 per share in cash. The purchase price represents a premium of approximately 30 percent over Alliance Data’s closing share price of $62.96 on May 16, 2007.
  • May 03, 2007

    Cinven Sells Klöckner Pentaplast for €1.3 Billion to Blackstone

    International growth strategy successfully implemented Frankfurt / London, 3 May 2007 - European private equity firm Cinven today announces that it and its minority partner, JPMorgan Partners, LLC (CCMP Capital Advisors, LLC manages their investment), have signed an agreement to sell Klöckner Pentaplast ("kp"), the world's leading manufacturer of rigid plastic films, to an affiliate of The Blackstone Group for €1.3 billion (US$1.8 billion), an 8x multiple of pro-forma EBITDA.