NEW YORK (CelebrityAccess) — Following an anti-competition evaluate by the U.S. Division of Justice, Legends introduced it has accomplished the acquisition of venue administration large ASM World, finishing a $2.3b greenback merger of the 2 corporations.
The mixed firm now contains ASM World’s in depth portfolio of venues with Legend’s experience in partnerships, branding, premium visitor experiences, occasion reserving, venue planning, growth, and administration.
Following the acquisition, ASM World will proceed to function, for now a minimum of, underneath its personal title.
“The following period of Legends begins now,” mentioned Dan Levy, CEO of Legends. “Over the course of 15 years, we now have developed an unmatched answer to ship a superior fan expertise and assist our companions develop. We’re proud so as to add ASM World to ship even higher experiences and worth for our world companions, setting the usual in sports activities and leisure.”
“Certainly one of our ASM World mantras for plenty of years has been ‘the long run is now.’ By becoming a member of Legends, that future has not solely arrived, however it couldn’t be brighter. The alternatives created by our corporations’ collective capabilities will elevate not solely the success of our companions, purchasers, and tasks worldwide, however the business as a complete,” added ASM World’s Ron Benison.
Sixth Avenue, a personal fairness agency with greater than $75 billion in property underneath administration, is almost all investor in Legends in partnership with YGE Holdings, LLC, an affiliate of the New York Yankees, and Jones Concessions LP, a Jerry Jones household firm. As a part of the transaction, earlier ASM World fairness holders Onex and AEG have bought their full possession pursuits.
Moelis & Firm LLC and BofA Securities, Inc. served as monetary advisors to Legends, and Ropes & Grey LLP and Cleary Gottlieb Steen & Hamilton LLP served as its authorized counsel. Goldman Sachs and Jefferies served as monetary advisors to ASM World, and Latham & Watkins LLP, Hogan Lovells, and Arnold & Porter served as its authorized counsel. Gibson, Dunn & Crutcher LLP served as authorized counsel to YGE Holdings, LLC and Jones Concessions LP.