Ryman Hospitality: Atairos, NBCUniversal Making Strategic Investment in Opry Entertainment
April 04 2022 - 7:32PM
Dow Jones News
By Stephen Nakrosis
Ryman Hospitality Properties on Monday said Atairos and its
long-term strategic partner, NBCUniversal, will acquire a 30%
minority ownership stake in RHP's subsidiary OEG Attractions
Holdings LLC.
OEG Attractions Holdings directly or indirectly owns the assets
that comprise Opry Entertainment Group, Ryman said. The investment
values OEG at $1.415 billion, according to Ryman.
The initial 30% equity investment will be about $293 million,
Ryman said, adding Atairos will directly invest about $278 million
and NBCUniversal about $15 million.
Ryman also said Atairos agreed to make an additional $30 million
investment in OEG, contingent on certain performance targets,
adding the additional investment would bring OEG's valuation to
$1.515 billion.
Once the deal is completed, Atairos Partners Alex Evans and
Jackson Phillips will join OEG's Board of Directors, which will be
made up of four RHP Directors and two Atairos Directors, Ryman
said.
Opry Entertainment Group's portfolio includes the Grand Ole
Opry, The Inn at Opryland and the Gaylord Springs Golf Links.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
April 04, 2022 19:17 ET (23:17 GMT)
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