Blackstone in Advanced Talks to Buy Stake in ATG, Sky Reports

Blackstone Inc. is in advanced talks to buy a minority stake in the<-bsp-bb-link state="{"bbHref":"bbg://securities/635796Z%20LN%20Equity","_id":"00000190-3fad-d497-a7fb-ffadb1990001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Ambassador Theatre Group from Australian entertainment firm <-bsp-bb-link state="{"bbHref":"bbg://securities/1367332D%20AU%20Equity","_id":"00000190-3fad-d497-a7fb-ffadb1990002","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">TEG Pty Limited, according to Sky News.

The deal would involve a stake between 10% and 15% in the owner of some of London’s west end playhouses, including Duke of York’s and Lyceum theaters, Sky reported on Saturday citing a person familiar with the matter.

ATG has been majority-owned by <-bsp-bb-link state="{"bbHref":"bbg://securities/117693Z%20US%20Equity","_id":"00000190-3fad-d497-a7fb-ffadb19a0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Providence Equity Partners Inc. since 2013 and operates roughly 60 theaters, dozens of which in the UK, according to Sky.

Blackstone and Providence both declined to comment to Sky. ...