The UK’s Competition and Markets Authority (CMA) announced today (Thursday) that it has launched a preliminary investigation into the proposed merger between venue management services company SMG and AEG Facilities, the venue management subsidiary of sports and entertainment firm AEG.
The two firms announced plans to merge in February, with the deal set to create a new, standalone global facility management and venue services company that will operate as ASM Global. Private equity firm Onex, SMG’s parent company, and AEG’s subsidiary will each own 50 per cent of the company following the completion of the transaction.
The CMA announced today that it is investigating the proposed acquisition of joint control over Wildlife Holdings – the likely new name of the company that will trade as ASM Global – by AEG and Onex. This follows the European Commission’s decision to partially refer the case to the UK.
Read the full story on our sister site TheStadiumBusiness.com.