Davis Polk is advising NBCUniversal on its acquisition of The Blackstone Group’s 50% interest in Universal Orlando. The purchase price for Blackstone’s interest is $1.025 billion, subject to various purchase price adjustments. Following the closing, NBCUniversal and its affiliates will own 100% of Universal Studios Florida, Universal’s Islands of Adventure and Universal CityWalk, which are located at Universal Orlando. The transaction is expected to close on July 1, 2011.

Universal Orlando Resort has created some of the world’s most innovative theme park attractions based on pop culture’s most compelling films and stories. NBCUniversal is one of the world’s leading media and entertainment companies in the development, production and marketing of entertainment, news and information to a global audience. Blackstone is one of the world’s leading investment and advisory firms. 

The Davis Polk corporate team includes partners David L. Caplan and William H. Aaronson and associates Carson T. Stewart, Xiaoxi Lin, Nina S. Assouline and Jiabei Chen. The tax team includes partners Avishai Shachar and Neil Barr and associates Kay Ng and Patrick E. Sigmon. Partner Arthur J. Burke is providing antitrust advice. Members of the Davis Polk team are based in the New York office.