Six Flags Entertainment Corporation's subsidiary entered a purchase agreement to sell real property in Maryland to a joint venture, expecting to use net proceeds to reduce debt obligations.
Key takeaways
Subsidiary Six Flags America Property Corporation signed purchase agreement for real property in Prince George’s County, Maryland.
Buyer is joint venture between 35V (co-founded by Kevin Durant and Rich Kleiman) and TPA Group.
Transaction subject to buyer’s diligence and other closing conditions.
Net proceeds from sale to be used to pay down Company’s debt obligations.