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AEG Facilities, SMG Merge to Form ASM Global
Monday 11 February 2019

11 February 2019 - California, US-based AEG Facilities, the venue management subsidiary of AEK and SMG, has agreed to merge, creating a new standalone global facility management and venue services company that will operate as ASM Global, the company said.
The terms of the transaction were not disclosed. The transaction is expected to be completed later this year subject to customary closing conditions and regulatory approvals.
AEG Facilities is a portfolio company of Onex (TSX: ONEX). Onex and AEG's subsidiary will each own 50% of the company following the completion of the transaction.
AEG will retain ownership of its real estate holdings outside of this venture, including its entertainment districts and owned venues in Los Angeles, London, Hamburg and Berlin, as well as its extensive development, sports, music and sponsorship divisions. Onex is contributing its entire equity investment in SMG into the merger.
SMG provides management services to more than 240 public assembly facilities including convention and exhibition centres, arenas, stadiums, theatres, performing arts centres, equestrian facilities and a variety of other venues.
With facilities across the globe, SMG manages more than 20m square feet of exhibition space and over 1.6m sports and entertainment seats.
AEG Facilities is a subsidiary of AEG, a leading sports and live entertainment company.
Onex is a private equity firm. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams.
At Onex Credit, Onex manages and invests in leveraged loans, collateralised loan obligations and other credit securities. Onex has more than USD 33bn of assets under management, including USD 6.9bn of Onex proprietary capital, in private equity and credit securities.
AEG is a leading sports and live entertainment company.
Through its worldwide network of venues, portfolio of powerful sports and music brands and its integrated entertainment districts, AEG entertains more than 100m guests annually.
Details
Date Published: 11/02/2019
Target: SMG
Country: USA
Sector: Construction/Real Estate
Type: LBO
Financing:
Status: Agreed
Vendor:
Buyer: AEG Facilities
Comment:
AEG Facilities is a portfolio company of Onex (TSX: ONEX). Onex and AEG´s subsidiary will each own 50% of the company following the completion of the transaction.

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