NEW YORK (CelebrityAccess) — Legends has announced it has completed its acquisition of venue management giant ASM Global, completing a $2.3 billion merger of the two companies following an anti-competitive review by the U.S. Department of Justice.
The combined company now includes ASM Global’s extensive venue portfolio, as well as Legend’s expertise in partnerships, branding, premium guest experiences, event bookings, venue planning, development and management.
Following the acquisition, ASM Global will continue to operate under its own name, at least for now.
“Legend’s next era begins now,” said Legend CEO Dan Levy. “For 15 years, we have developed unparalleled solutions to deliver exceptional fan experiences and help our partners grow. We are proud that ASM Global can provide our partners around the world with an even better experience and Values that set standards in sports and entertainment.
“For many years, one of our slogans at ASM Global has been ‘The future is now’. By joining Legends, that future is not only already here, but it is even brighter. Our company’s collective capabilities create opportunities that will not only enhance our global partners, customers and project success, and will enhance the success of the entire industry.
Sixth Street, a private equity firm with more than $75 billion in assets under management, is the lead investor in Legends in partnership with New York Yankees affiliate YGE Holdings, LLC and Jerry Jones family company Jones Concessions LP. As part of the transaction, ASM Global’s previous equity holders Onex and AEG have sold their entire ownership interests.
Moelis & Company LLC and BofA Securities, Inc. are serving as financial advisors to Legends, and Ropes & Gray LLP and Cleary Gottlieb Steen & Hamilton LLP are serving as legal advisors. Goldman Sachs and Jefferies are serving as financial advisors to ASM Global, and Latham & Watkins LLP, Hogan Lovells and Arnold & Porter are serving as legal advisors. Gibson, Dunn & Crutcher LLP is serving as legal counsel to YGE Holdings, LLC and Jones Concessions LP.
