Cedar Fair and Six Flags have set a date for the closing of their proposed merger.
The two companies will combine operations and begin operating as one starting July 1, the companies announced today. It is unclear whether the Department of Justice has given its approval for the merger to proceed or, if so, under what conditions. The companies' press release said "(t)he completion of the Mergers is subject to the satisfaction or waiver of a number of conditions set forth in the merger agreement relating to the Mergers, including the satisfaction of regulatory conditions."
Current Cedar Fair executives will hold the majority of C-suite positions in the new company, which will be headquartered in Cedar Fair's current home of Charlotte, N.C. As previously announced, Cedar Fair's President and CEO, Richard Zimmerman, will hold those same roles in the new Six Flags Entertainment Corporation. Current Six Flags President and CEO Selim Bassoul will be the new company's Executive Chairman. Cedar Fair's current Chief Operating Officer, Chief Financial Office, Chief Legal & Compliance Officer, and Chief Strategy Officer will take over the same roles in the new company. The current Six Flags Executive Vice President and Chief Financial Officer will become the Chief Integration Officer in the new company.
"We are fortunate to have a proven team of leaders who bring decades of park operating experience and significant expertise in integrating businesses and achieving synergy targets for the combined company," Zimmerman said. "Their insights and complementary skill sets will be instrumental as we combine two of North America's iconic amusement park companies and forge a new future together."
The combined company will operate amusement and water parks at more than 30 sites across North America, assuming none are sold or closed to satisfy regulatory concerns.
* * *
To keep up to date with more theme park news, please sign up for Theme Park Insider's weekly newsletter.
And to help support Theme Park Insider while saving money on discounted theme park tickets, please visit our international and U.S. attraction ticket partners.
This article has been archived and is no longer accepting comments.
