AEG and Onex Partners Announce Agreement to Sell Ownership Interest in ASM Global as Part of Legends’ Acquisition of ASM

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All quantities in U.S. {dollars} except in any other case said

LOS ANGELES and TORONTO, Nov. 07, 2023 (GLOBE NEWSWIRE) — AEG, the world’s main sports activities and reside leisure firm, and Onex, a number one investor and different asset supervisor, as we speak collectively introduced that AEG and Onex Companions have signed a definitive settlement to promote their whole possession curiosity in ASM International (“ASM”), a world chief in third-party venue and occasion administration, to Legends, a world premium experiences firm. The monetary phrases of the transaction weren’t disclosed.

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“At present’s announcement is the fruits of the journey AEG and Onex launched into in early 2019 after we accomplished the merger of AEG Services and SMG to kind ASM International,” stated Dan Beckerman, President, and Chief Government Officer of AEG. “Our function has been clear from the beginning – to drive ASM’s progress and create important worth for ASM and its purchasers. Regardless of the large affect of the pandemic, we have been capable of unlock substantial enterprise worth over the previous 4 years with ASM rising each its revenues and international portfolio.”

“This transaction will permit us to give attention to the continued progress of AEG’s core companies, together with our owned and operated actual property and venues and our reside leisure and ticketing enterprise,” stated Ted Fikre, Vice Chairman and Chief Authorized and Improvement Officer of AEG. “AEG has loved our profitable partnership with Onex and, whereas we are going to now not be an proprietor in ASM, we sit up for persevering with to work with the corporate and its gifted management staff as they pursue ongoing success underneath the stewardship of Legends as the brand new proprietor.”

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Kosty Gilis, Managing Director at Onex Companions, commented, “We’re extraordinarily grateful to the complete ASM management staff for his or her unwavering dedication to positioning the enterprise for achievement, specifically in the course of the unparalleled working surroundings they confronted in the course of the pandemic, which has allowed ASM to get well so strongly and have nice long-term prospects. We might additionally prefer to thank AEG who’ve been fantastic companions in keeping with their impeccable fame within the market.” Amir Motamedi, Managing Director at Onex Companions, added, “We consider ASM is being acquired by an impressive firm in Legends who will take the enterprise to new heights. We want them a lot success within the coming years as they proceed to develop the enterprise and serve prospects globally.”

ASM International manages a portfolio of reside occasion leisure venues worldwide and offers best-in-class venue administration and operation providers. With purchasers spanning 5 continents, ASM International operates venues that serve reside occasions for greater than 164 million company yearly. Legends offers a complementary providing of hospitality, venue planning and undertaking administration, premium gross sales, sponsorship, and merchandise providers to most of the world’s most iconic sports activities, leisure, and points of interest manufacturers.

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The transaction, which stays topic to regulatory approvals, is focused to shut in 2024.

About AEG
Headquartered in Los Angeles, California, AEG is the world’s main sports activities and reside leisure firm. The corporate operates within the following enterprise segments:

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By way of its worldwide community of venues, portfolio of highly effective sports activities and music manufacturers and its built-in leisure districts, AEG entertains greater than 160 million company yearly. Extra details about AEG will be discovered at www.aegworldwide.com.

About Onex
Onex is an investor and asset supervisor that invests capital on behalf of Onex shareholders and purchasers throughout the globe. Fashioned in 1984, we’ve an extended observe document of making worth for our purchasers and shareholders. Onex’ two main companies are Non-public Fairness and Credit score. In Non-public Fairness, we increase funds from third-party buyers, or restricted companions, and make investments them, together with Onex’ personal investing capital, via the funds of our personal fairness platforms, Onex Companions and ONCAP. Equally, in Credit score, we increase and make investments capital throughout a number of personal credit score, public credit score and public fairness methods. Our buyers embody a broad vary of world purchasers, together with private and non-private pension plans, sovereign wealth funds, insurance coverage corporations and household places of work. In complete, Onex has $49.5 billion in property underneath administration, of which $7.9 billion is Onex’ personal investing capital. With places of work in Toronto, New York, New Jersey, Boston and London, Onex and its skilled administration groups are collectively the most important buyers throughout Onex’ platforms.
Onex is listed on the Toronto Inventory Trade underneath the image ONEX. For extra data on Onex, go to its web site at www.onex.com. Onex’ safety filings may also be accessed at www.sedarplus.ca.

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Ahead-Wanting Statements

This press launch could comprise, with out limitation, statements regarding doable or assumed future operations, efficiency or outcomes preceded by, adopted by or that embody phrases reminiscent of “believes”, “expects”, “potential”, “anticipates”, “estimates”, “intends”, “plans” and phrases of comparable connotation, which might represent forward-looking statements. Ahead-looking statements should not ensures. The reader shouldn’t place undue reliance on forward-looking statements and knowledge as a result of they contain important and numerous dangers and uncertainties that will trigger precise operations, efficiency or outcomes to be materially completely different from these indicated in these forward-looking statements. Besides as could also be required by Canadian securities regulation, Onex is underneath no obligation to replace any forward-looking statements contained herein ought to materials information change resulting from new data, future occasions or different components. These cautionary statements expressly qualify all forward-looking statements on this press launch.

For Additional Info:

Onex
Jill Homenuk
Managing Director – Shareholder
Relations and Communications
Tel: +1 416.362.7711

AEG Worldwide
Michael Roth
VP Communications
Tel: 310-308-7684
mroth@aegworldwide.com

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