Ticketek, Allphones Arena For Sale?
Private equity operator CVC Asia Pacific’s Nine Entertainment Co hopes to sell its Australian sports and entertainment ticketing company
Investment bank UBS will probably begin a formal sale process early April, the Sydney Morning Herald reports.
The two businesses are expected to be worth $600 million. Ticketek is the largest ticketing agency in Australia, with 200 venues contracted.
Ticketek last year generated a profit of $50 million and Allphones Arena $10 million, according to the Herald.