Blackstone To Cut Stake In Hilton

(RTTNews) - Hilton Worldwide Holdings Inc. (HLT) said Monday that certain selling stockholders affiliated with private equity firm The Blackstone Group L.P. (BX) have commenced a secondary offering of 90 million shares of Hilton Worldwide common stock.

The underwriters will have a 30-day option to purchase up to an additional 13.5 million shares of common stock from the selling stockholders.

Hilton Worldwide, which was acquired by Blackstone in October 2007, went public in December 2013 through an initial public offering priced at $20.00 per share. Blackstone did not sell any shares of Hilton Worldwide in the IPO.