Australian ticket vendor Ticketek has become the subject of takeover talk just a year after it was bought for $490m (£378.5m/€436.0m).
Three global companies have held talks with Affinity Equity Partners about buying TEG, the media and events business that owns Ticketek, according to The Australian newspaper. Chinese conglomerates Wanda Group and Fosun and German ticketing and events giant CTS Eventim have each expressed an interest in the company.
However, The Australian said Affinity has not kicked off a formal sale process and is pursuing a strategy of expansion in Asia through organic growth and new acquisitions.
Ticketek, which was formed in 1979, is valued so highly because of its database of 12 million consumers and annual ticket sales of 23 million. Ticketek sells tickets for more than 20,000 music, entertainment and sports events per year, including the Australian Open tennis tournament, and is the official ticketing partner of the Australian Football League.
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