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O2 arena sale scrapped

by LLB Editor
15th Mar 13 12:13 pm

The O2 arena in Greenwich has been taken off the market. It was being sold along with other assets within its parent group Anschutz Entertainment Group (AEG). AEG owner and US billionaire tycoon Philip Anschutz said offers he received for AEG fell “$1bn short of expectations”.

“If in a sales process I feel I’m not properly compensated for what I think the value is, I’m not going to sell,” Anschutz, who is thought to be worth $7.6bn, told The FT.

The company got interest from many global firms including Australian shopping operators Westfield, Qatari Sports Investment, Investment firm Guggenheim Partners and LA real estate group Colony Capital.

AEG owns David Beckham’s former football team LA Galaxy, a stake in the LA Lakers basketball team and more than 100 other music venues around the world.

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