AEG and Onex Partners Complete Sale of Ownership Interest in ASM Global to Legends
August 23 2024 - 10:30AM
AEG, the world’s leading sports and live entertainment company, and
Onex, a leading investor and alternative asset manager, today
jointly announced the closing of the sale of ASM Global (“ASM”), a
global leader in third-party venue and event management, to
Legends, a global premium experiences company. The announcement
follows the successful conclusion of the process to obtain required
approvals for the sale transaction previously agreed to and
announced by the parties in November of 2023.
“This transaction is the culmination of our
vision to drive ASM’s growth and unlock substantial business value
in the company. This milestone will allow us to focus on the
continued growth of AEG’s core businesses, including our owned and
operated real estate and venues, and our live entertainment and
ticketing business,” said Dan Beckerman, President, and Chief
Executive Officer of AEG.
“We are pleased to complete our investment in
ASM after having partnered with its management team and with AEG to
expand the business, successfully navigate the pandemic and
position it for future success,” said Kosty Gilis and Amir
Motamedi, Managing Directors at Onex Partners. “We are confident
Legends will deliver continued growth and differentiated services
to its clients around the globe in the years ahead.”
ASM Global manages a portfolio of live event
entertainment venues worldwide and provides best-in-class venue
management and operation services. With clients spanning five
continents, ASM Global operates venues that serve live events for
more than 164 million guests annually. Legends provides a
complementary offering of hospitality, venue planning and project
management, premium sales, sponsorship, and merchandise services to
many of the world’s most iconic sports, entertainment, and
attractions brands.
About AEG
Headquartered in Los Angeles, California, AEG is
the world’s leading sports and live entertainment company. The
company operates in the following business segments:
- Music through
AEG Presents, which is dedicated to all aspects of live
contemporary music performances, including the production and
promotion of global and regional concert tours, an extensive
portfolio of clubs, theaters and other music venues, concerts and
special events and world-renowned festivals such as the Coachella
Valley Music and Arts Festival;
- Venues and Real
Estate, which develops, owns and operates world-class venues, as
well as major sports and entertainment districts like Crypto.com
Arena and L.A. LIVE, Mercedes Platz in Berlin and The O2 in
London;
- Sports, as the
world’s largest operator of high-profile sporting events and sports
franchises including the LA Kings, LA Galaxy and Eisbären Berlin;
and
- Global
Partnerships, which oversees worldwide sales and servicing of
sponsorships including naming rights, premium seating, and other
strategic partnerships.
Through its worldwide network of venues,
portfolio of powerful sports and music brands and its integrated
entertainment districts, AEG entertains more than 160 million
guests annually. More information about AEG can be found
at www.aegworldwide.com.
About Onex
Onex invests and manages capital on behalf of
its shareholders and clients across the globe. Formed in 1984, we
have a long track record of creating value for our clients and
shareholders. Our investors include a broad range of global
clients, including public and private pension plans, sovereign
wealth funds, insurance companies, family offices and
high-net-worth individuals. In total, Onex has $49 billion in
assets under management, of which $8.5 billion is Onex’ own
investing capital. With offices in Toronto, New York, New Jersey
and London, Onex and its experienced management teams are
collectively the largest investors across Onex’ platforms.
Onex is listed on the Toronto Stock Exchange
under the symbol ONEX. For more information on Onex, visit
www.onex.com. Onex’ security filings can also be accessed at
www.sedarplus.ca.
For Further Information:
Michael RothVP, Communications, AEGTel: (310)
308-7684mroth@aegworldwide.com
Jill Homenuk Managing Director – Shareholder Relations and
Communications, OnexTel: (416) 362-7711
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