June 23 (Reuters) – Mari Group, founded by TKO CEO Ari Emanuel, is in advanced talks to buy British West End theater operator ATG Entertainment for £4.5 billion ($5.94 billion), the Financial Times reported on Tuesday, citing four people close to the situation.
Here are further details:
• U.S.-based Providence, which owns ATG, is now in exclusive talks to sell to Emanuel’s live events company Mari Group amid hopes a deal can be concluded within the next month, FT reported.
• The timing could still slip and a deal is not confirmed, the report said.
• Emanuel is also the CEO of TKO, the owner of mixed martial arts promotion company Ultimate Fighting Championship.
• Reuters reported last month that ATG Entertainment is in the early stages of being prepared for a possible sale by its private equity owner Providence, citing four people familiar with the matter.
• The sale of ATG Entertainment, previously known as Ambassador Theatre Group, would mark a revival for an industry that was hurt badly by lockdowns during the pandemic.
• Providence and ATG did not immediately respond to Reuters requests for comment. Mari declined to comment.
($1 = 0.7575 pounds)
(Reporting by Puyaan Singh in Bengaluru; Editing by Sahal Muhammed)
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