SeaWorld has terminated agreements with its major shareholder for park exclusivity and design in China, citing “non-payment of undisputed amounts” owed to it.
The agreements were with property developer Zhonghong Holding, part of ZHG Group, which acquired a 21 per cent stake in SeaWorld from Blackstone in 2017, with two of its executives joining the SeaWorld board.
Two agreements were then put in place: one for Park Exclusivity and Concept Design (ECDA); the second for Center Concept and Preliminary Design (CDSA). The ECDA was to see SeaWorld work with Zhonghong Holding and theme park design company Hettema Group to create concept designs and development analysis for theme parks, water parks and interactive parks in China.
