Legends has officially completed its acquisition of ASM Global after a thorough anti-competition review by the U.S. Department of Justice. The merger, valued at $2.3 billion, integrates ASM Global’s extensive portfolio of venues with Legends’ expertise in partnerships, branding, premium guest experiences, event booking, and venue management. Despite the acquisition, ASM Global will continue to operate under its current name for the foreseeable future. Dan Levy, CEO of Legends, expressed enthusiasm about the merger, highlighting the potential for delivering superior fan experiences and growth for their partners. Ron Benison, of ASM Global, echoed these sentiments, noting that the merger brings unprecedented opportunities for the combined companies. Sixth Street, a private equity firm with over $75 billion in assets under management, is the majority investor in Legends, alongside YGE Holdings and Jones Concessions LP. Onex and AEG have completely sold their ownership stakes as part of the transaction. The deal saw Moelis & Company LLC and BofA Securities, Inc. acting as financial advisors to Legends, with Ropes & Gray LLP and Cleary Gottlieb Steen & Hamilton LLP serving as legal counsel. Goldman Sachs and Jefferies were the financial advisors for ASM Global, with Latham & Watkins LLP, Hogan Lovells, and Arnold & Porter acting as legal advisors. Additionally, Gibson, Dunn & Crutcher LLP served as legal counsel for YGE Holdings and Jones Concessions LP.
Private Equity, Venue Management, Sports and Entertainment,United States
https://mergersacquisitions.einnews.com/article/737850683/jsLPnHgJ6zo1NOd5?ref=rss&ecode=Q1vNcweEggLWKz7L