UK Competition Authority Clears AEG Facilities And SMG Merger

The UK’s Competition and Markets Authority today announced that it has cleared the proposed mega-merger between AEG Facilities and SMG.

As matters stand, Wildlife Holdings Inc. is going to be the name of the new company, which will be controlled by AEG and SMG-owner Onex Corporation and will trade as ASM Global.

The exact wording: “The CMA has cleared the proposed acquisition of joint control over Wildlife Holdings Inc. by Anschutz Entertainment Group, Inc. and Onex Corporation. The full text of the decision will be available shortly.”

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.

CMA launched a phase 1 merger investigation in April. It has now concluded that the transaction won’t result in a substantial lessening of competition within any market or markets in the UK for goods or services.

A statement from AEG reads: “We are pleased that the proposed merger of AEG Facilities and SMG has received unconditional clearance from the U.K. Competition and Markets Authority (CMA).  The parties anticipate closing the transaction in early October.”