By Stephen Nakrosis
Endeavor Group Holdings agreed to sell its OpenBet and IMG Arena businesses for $450 million in a management buyout backed by Ariel Emanuel with participation from company executives, including chief executive officer Jordan Levin.
The private-equity group Silver Lake said in April it would take Endeavor private in a deal with a $13 billion equity value and a $25 billion consolidated enterprise value. The OpenBet and IMG Arena transaction is a necessary step for the closing of Silver Lake's offer, Endeavor said on Monday.
Open Bet and IMG Arena will be acquired by OB Global Holdings and financed with a combination of cash and debt, Endeavor said.
During the sign-to-close period and after closing, Endeavor will continue to market IMG Arena for sale to a third-party purchaser, according to the company.
OpenBet provides sports data and technology services, while IMG Arena delivers live streaming and data feeds from sporting events.
Endeavor is a global sports and entertainment company, and is majority owner of TKO Group Holdings, a sports and entertainment company comprising of the UFC and WWE.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
November 11, 2024 16:58 ET (21:58 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。