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Blackstone exits Hilton

Hilton Worldwide Holdings Inc. said certain Blackstone Group LP-affiliated stockholders have agreed to sell 15,800,000 shares of its common stock in privately negotiated transactions.

The hotelier will then repurchase 1,250,000 shares in a private, non-underwritten transaction, according to a release.

Blackstone and its affiliated funds will no longer own any shares in Hilton upon completion of the share sale, Hilton's share repurchase and the distributions of the remaining 214,503 Hilton shares held by the selling stockholders to their respective partners.

Hilton did not offer any common shares in the transaction and will not receive any proceeds from the share sale.