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SeaWorld (SEAS) - Get SeaWorld Entertainment Inc. Report made a splash with investors on Tuesday after announcing that long-time investor Hill Path Capital was raising its stake in the company to 34.5%, and that it is also buying back its own stock from an affiiliate of investment Pacific Alliance Group to the tune of $150 million.

Shares of SeaWorld swelled nearly 18% in mid-day trading on Tuesday to $32.06 after private-equity firm Hill Path Capital said it agreed to acquire 13.2 million shares of SeaWorld from an affiliate of Pacific Alliance Group, boosting its total stake in SeaWorld to 34.5%.

Based on Friday's closing stock price of $27.25, the agreement would add up to $360 million in additional capital for SeaWorld. The agreement also includes appointing up to three Hill Path director nominees to SeaWorld's board.

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At the same time, SeaWorld said it has also agreed to buy back an additional 5.6 million of its own shares from a separate affiliate of Pacific Alliance Group for another $150 million.

"We are thrilled that Hill Path has agreed to increase its investment in SeaWorld," SeaWorld CEO Gus Antorcha said in a statement.