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UK Competition Authority clears planned merger between AEG Facilities and SMG

UK Competition Authority clears planned merger between AEG Facilities and SMG
September 12, 2019

The UK’s Competition and Markets Authority has announced that it has cleared the proposed merger between global entertainment giants AEG Facilities and SMG.

Announced in February, the merger will create a new, standalone global facility management and venue services firm, called ASM Global.

Bringing together with more than 310 venues across five continents, ASM Global will operate a portfolio of arenas, stadiums, convention centres and performing arts centres.

SMG owner Onex and AEG’s subsidiary will each own 50% of the company following the completion of the merger.

ASM will be headquartered in Los Angeles in the USA, but will also maintain key operations at SMG's current base in West Conshohocken, Philadelphia, USA.

Current President of AEG Facilities Bob Newman will be named President and Chief Executive of ASM following the completion of the transaction, while Wes Westley, Chief Executive and President of SMG, will join ASM’s Board of Directors.

Welcoming the UK Competition Authority's announcement, AEG spokesperson Michael Roth advised "we are pleased that the proposed merger of AEG Facilities and SMG has received unconditional clearance from the U.K. Competition and Markets Authority."

Roth added that the parties now "anticipate closing the transaction in early October".

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13th June 2019 - AEG partners with CJ Group to advance new Seoul Metropolitan Arena

26th April 2019 - Darren Burden named SMG’s Project Executive Director for Hong Kong Kai Tak Sports Park project

11th April 2019 - Leading global promoters Frontier Touring and AEG announce strategic joint venture

11th April 2019 - AEG Ogden announces key appointments and team promotions

19th February 2019 - AEG Ogden to manage Christchurch’s Te Pae convention centre

11th February 2019 - AEG Ogden Chairman Harvey Lister excited at being part of new ASM Global venues business

8th February 2019 - AEG Facilities and SMG announce merger to create global venue management giant

19th May 2017 - AEG Facilities accounts for 50% of ticket sales in top 10 global arenas

30th January 2017 - AEG Facilities sell more than 12 million tickets worldwide during 2016

11th August 2016 - AEG Facilities launches Global Solutions Division

5th November 2009 - Spotless and SMG Unite in Bid to manage Perth Arena


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