SeaWorld is handing over 21 percent stake in its company to China-based company Zhonghong Group. The Chinese company will now become SeaWorld's largest owner at $23 per share.
Zhonghong says it plans to make long-term investments in the company, which includes both the SeaWorld and Busch Gardens parks.
Both attendance and revenue plummeted for SeaWorld last year, and even though the company has been under fire since the 2013 release of the documentary "Blackfish", it blamed the impact on the recent Hurricane Matthew.
Blackstone acquired its stake in SeaWorld in 2009, when it bought Busch Entertainment Group.