Ari Emanuel's Mari in talks to buy theater group ATG for $6 billion, FT reports

TKO group

Tue 23:34

    June 23 (Reuters) - Mari Group, founded by TKO TKO.N 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)
 ((Puyaan.Singh@thomsonreuters.com;))