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Blackstone's Hilton LBO hits sweet spot

Franchising deals, cost cuts help hotel group reduce debt by more than 40%

[NEW YORK] Blackstone Group's Hilton Worldwide Holdings is emerging as one of the few bright spots from the leveraged-buyout (LBO) boom as the hotelier claws its way out of junk by reducing debt.

While some of the biggest LBOs before the financial crisis such as Energy Future Holdings and...

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