Europe is in talks about selling a minority stake to an outside
investor in a deal which could value the operator of London’s O2
arena at 1 billion pounds ($1. billion), Sky News reported.
Sky’s Mark Kleinman, citing people close to the situation,
wrote in his blog on Friday that AEG was holding exploratory
talks with investors, including sovereign wealth fund China
Investment Corporation, to raise funds for its international
expansion plans.AEG holds a sub-lease on the O2 arena, a major events venue
in London, through its subsidiary Ansco Arena Limited, until
2110. It also owns or controls conference and sporting venues in
the U.S. and Beijing.CIC met AEG executives last week at the London offices of
Morgan Stanley, which is advising the entertainment group on the
potential fundraising deal, Kleinman said.The sources also cautioned that AEG may be only conducting a
valuation exercise, Kleinman added.AEG Europe and Morgan Stanley declined to comment. CIC could
not be reached for comment
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