MSG Entertainment Group will look to sell its 62.5 percent stake in the company.
MSG Entertainment acquired its stake in the restaurant group in 2017 and is says it “believes that now is the appropriate time to explore a potential sale of its interest in Tao Group Hospitality.” The company paid paid $181 million for a 62.5 percent stake in the company, which now has more than 70 locations across four continents.
As it explores the sale, MSG Entertainment will also lift its policy of banning attorneys involved in active litigation related to Tao from entering its venues. “As a result of MSG Entertainment’s exploration of a potential sale of its majority interest in Tao Group Hospitality, effective immediately, the Company has lifted the adverse attorney policy for any litigation currently pending with Tao entities. Accordingly, all attorneys employed at the firms involved may attend events at MSG Entertainment’s venues, and those firms will all be notified.
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