Six Flags Agrees to Sell Seven Parks for $312 Million

The sale is completed... but still, who is PARC?

NEW YORK, April 9 /PRNewswire-FirstCall/ -- Six Flags, Inc. (NYSE: SIX)

announced today that it has completed the previously announced sale of

three of its water parks and four of its theme parks to Parc 7F-Operations

Corporation ("PARC") of Jacksonville, FL for $312 million, consisting of

$275 million in cash and a note receivable for $37 million.

 

The seven parks are: Six Flags Darien Lake in Buffalo, NY; Six Flags

Elitch Gardens in Denver, CO; Frontier City and the White Water Bay water

park in Oklahoma City, OK; SplashTown in Houston, TX; Waterworld USA in

Concord, CA; and Wild Waves and Enchanted Village in Seattle, WA.

 

The Company noted that obligations with respect to 2007 season passes

and any committed park events, including group bookings and the previously

announced Dream Nite promotion, will continue to be fulfilled under the new

park ownership.

 

Six Flags, Inc. is the world's largest regional theme park company.

Founded in 1961, Six Flags celebrated its 45th anniversary in 2006. Six

Flags, Inc. is a publicly-traded corporation (NYSE: SIX) headquartered in

New York City.

*I cut out all of the financial jargon at the end.

Well, at least its some news. But I'm still waiting for some word from this "PARC" company or whatever...