NBCUniversal has announced that it has agreed a deal to acquire the Blackstone Group's interest in Universal Orlando, Florida, US, for US$1.025bn (£623.7m).

The purchase price remains subject to adjustments, while the enterprise value of the deal is worth US$3.165bn (£1.9bn). The transaction is expected to close on 1 July.

Following the completion of the deal, NBCUniversal and its affiliates will own 100 per cent of Universal Studios Florida, Universal's Islands of Adventure and Universal CityWalk.

NBCUniversal chief executive officer Steve Burke said: "The acquisition consolidates our ownership and confirms our long-term commitment to Universal Orlando and the theme park business.

"Universal Orlando has a superb management team and exciting growth opportunities. This purchase of the Blackstone interest is attractively valued and represents strong financial returns for NBCUniversal."