Wed, 04 Jan 2012 | DIVISION SALE
Several bidders are circling the sale of HMV Live, including the owner of Time Out. The sale of HMV’s successful music venue and festivals business was originally announced in mid-December.
Citigroup was brought in to assist in the sale of the business, which would help HMV address its debt pile. HMV Live runs 13 music venues including London’s Jazz Cafe and is behind festivals including Global Gathering and Lovebox. HMV Live’s digital operations are also included in the sale.
Oakley Capital, the owner of magazine Time Out, is amongst several parties considering making an offer. Events firm Festival Republic is also thought to be interested in a deal, and may make an approach within days, but might not be interested in taking on the whole business.
Citigroup has approached several investors with information about the sale, most of which were interested and wanted more. The process is at an early stage.
HMV Live’s co-chief executive Dean James is understood to be speaking to potential backers about a management buy-out deal.
Simon Fox, chief executive at HMV, said to The Times in December that a sale is not a definite move; “It would make a significant difference to our level of debt. But I don’t want to pre-judge the outcome.”
Previous story - [url+http://http://www.business-sale.com/news/article/hmv-to-sell-its-thriving-business-hmv-live-35717.html]HMV to sell its thriving business HMV Live[/url]
Provides a comprehensive consultancy service within the building industry. Works with major BEMS systems manufacturers and suppliers and has extensive in-house knowledge.
LEASEHOLD
Manufactures high-quality bedding and other soft bedroom accessories for a diverse range of film, TV, video game, character and sports franchises, creating innovative products using new technologies and sustainable materials; it is now on the market...
LEASEHOLD
Supplies high-quality, bespoke protective packaging in a range of materials. Clients derive from a range of sectors, such as automotive, healthcare and aerospace.
LEASEHOLD
|
28
|
|
Sep
|
Assets to be sold after collapse of black plastics recycling firm | ADMINISTRATION
Administrators are seeking to sell the assets and intellectu...
|
27
|
|
Sep
|
Yorkshire countryside hotel on the market after entering administration | COMMERCIAL PROPERTY
A Yorkshire country house hotel has been put up for sale aft...
|
26
|
|
Sep
|
£1m-turnover Derry garden centre on the market for £1.25m | BUSINESS SALE
A £1 million-turnover garden centre in Derry has been ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
01
|
|
Jan
|
HMV enters administration | ADMINISTRATION
His Master’s Voice, more commonly known as HMV, has co...
|
24
|
|
Feb
|
Luton, Cardiff and Belfast airports up for sale | DIVISION SALE
Luton Airport, Cardiff Airport and Belfast Airport have been...
|
23
|
|
Jan
|
Hilco buys HMV debt and takes control | BUSINESS NEWS
Hilco has purchased HMV's debt and taken control of the...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources