NEW YORK (TheStreet) -- Hilton Worldwide (HLT) shares are down 0.3% to $25.17 on Monday after the company announced that Blackstone is decreasing its stake in the global hospitality company.
The private equity firm will sell between 90 million and 103.5 million shares in the company, netting it between $2.27 billion and $2.61 billion in the process.
Blackstone took Hilton Worldwide private in 2007 in a $20 billion deal before the company returned to the public market in December of last year, though Blackstone did not sell any shares as part of the initial public offering.
Blackstone currently owns a 66% stake in the company and will maintain a majority stake in the company following the sale, according to a FactSet analysis.
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