SeaWorld Entertainment Inc. on May 28 said that it agreed to repurchase about 5.6 million shares for approximately $150 million.

The company also said that Hill Path Capital LP will increase its stake in SeaWorld to 34.5% by acquiring 13.2 million shares.

The theme park operator said it will acquire the shares from an affiliate of Pacific Alliance Group. SeaWorld also said it agreed to appoint up to three Hill Path executives to its board, including James Chambers and Hill Path managing partner and current Sea World director Scott Ross.