Live Nation has resumed its acquisition of a 51% controlling interest in Ocesa Entretenimiento, a leading promoter in Latin America and owner of Ticketmaster Mexico, for an aggregate purchase price…
has resumed its acquisition of a 51% controlling interest in Ocesa Entretenimiento, a leading promoter in Latin America and owner of Ticketmaster Mexico, for an aggregate purchase price of $8,835,000,000 in Mexican dollars, or approximately $444 million U.S. The acquisition was first announced back in 2019 for a reported $480 million but delayed due to the pandemic; changes in the exchange rate account for a large percentage of a current lower prince.
The deal is subject to regulatory approval, which was previously granted during prior negotiations and must be confirmed once again now that the deal is proceeding. Ocesa’s primary ticketing business, Ticketmaster Mexico, is a leading ticketing company in Mexico, with around 20 million tickets sold annually. As part of the transaction, Live Nation also acquired an interest in OcesaSeitrack, Ocesa’s booking and artist management joint venture; ICREA, one of Mexico’s special and corporate event specialists; and Centro Citibanamex, an exhibition and convention center in Mexico City.
“We are extremely proud to finally join Live Nation,” said Kuri. “This is a natural evolution of our long-standing relationship and it gives us a unique opportunity to continue OCESA´s 30-year contribution to the development of the Mexican live entertainment industry. Additionally, it will help us foster CIE´s commitment to the promotion of Mexican artistic talent abroad.”
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