Blackstone's Stock Slides as Clarion Events Sale Sparks Strategic Shift

On May 21, Blackstone (BX) saw its stock price decline by 4.65%, marking a seven-day losing streak with an overall decrease of 7.72% over the week. Despite this downturn, developments within the company's portfolio may indicate strategic shifts.

Recent reports suggest that Blackstone Group has initiated the sale process of its trade show company, Clarion Events. The sale has garnered interest from multiple private equity firms, including major players such as CVC, KKR, PAI Partners, and Ardian, as market conditions stabilize.

Clarion Events is noted for its organization of global trade exhibitions across various sectors, including electronics, gaming, energy, and defense. Acquired by Blackstone in 2017 for approximately $802 million, Clarion has since benefited from Blackstone's financial backing, particularly during the pandemic when physical events were on hold.

Sources indicate that Clarion's valuation could reach approximately 12 times its EBITDA, potentially totaling around $2.5 billion. This potential sale aligns with Blackstone's pattern of strategic divestments amid evolving market environments.