Blackstone plans to sell 103.3 million shares in Hilton Worldwide HoldingsThe Blackstone Group L.P. ( BX), one of the world's largest private equity firms with $70 billion in assets under management revealed its plan to reduce its stake in Hilton Worldwide Holdings Inc ( HLT). Sign up for our free daily newsletter Blackstone to reduce Hilton stake to around 55% The Blackstone Group L.P. ( BX) is the largest shareholder of Hilton Worldwide Holdings Inc ( HLT) with 66% stake. The private equity firm acquired its position in the hotel and resorts operator for approximately $25 billion in debt and equity in 2007. The Blackstone Group L.P. ( BX) intends to reduce its stockholding in Hilton Worldwide Holdings Inc ( HLT) by approximately $2.6 billion through the offering of around 103.5 million shares. The private equity firm sold the same amount of shares during the expiration of the lockup period for Hilton's IPO last summer. The stake of Blackstone Group L.P. ( BX) in Hilton Worldwide Holdings Inc ( BX) will be around 55% after completing the sale of its shares in the company. The shares of Hilton Worldwide Holdings Inc ( BX) are trading at $25.45 per share, slightly up at the time of this writing around 1:28 in the afternoon in New York. Blackstone and PAI Partners to Sell United Biscuits Separately, Blackstone Group L.P. ( BX) and PAI Partners agreed to sell United Biscuits, the leading biscuits manufacturer and marketer in United Kingdom to Yildiz Holding. The private equity firm did not disclose the details of the transaction. Lionel Assant, Blackstone's head of private equity in Europe said, “United Biscuits is a great business and has been an excellent investment for us. Yildiz is the best home for the company and will allow UB to fulfil its international growth ambitions."