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Business News Live Business
TEG owners will start sounding out possible buyers in April
By Chris Cooke | Published on Tuesday 14 February 2023
The current owners of Australian live music company TEG Group will begin a formal process in April to sound out possible buyers for the business. Or at least that’s according to sources who have spoken to The Australian.
Reports began circulating last year that Silver Lake – the private equity outfit that bought TEG in 2019 – was seeking advice on a possible sale of the live entertainment and ticketing company.
Whether or not a sale happens later this year will depend on what bidders are interested and what kind of price they are willing to bid with. The Australian notes that other private equity funds are the most likely bidders.
Alongside its interests in festivals and tour promotion in Australia – not to mention its ticketing business Ticketek – TEG has also been expanding its interests in Europe, and especially the UK, in recent years.
Last year it revamped what is now known as TEG Europe, more closely aligning its tour promotion, venue, ticketing and data operations in this part of the world.
