The UK’s competition regulator, the Competition and Markets Authority (CMA), has approved the planned merger of AEG Facilities and SMG.
The CMA was one of a number of regulatory authorities investigating the merger of the venue management giants, which was announced in February. If the authority’s counterparts across the Atlantic also clear the merger, a new joint venture, Los Angeles-headquartered ASM Global, will likely launch in October of this year, according to an AEG spokesperson.
“We are pleased that the proposed merger of AEG Facilities and SMG has received unconditional clearance from the UK Competition and Markets Authority (CMA),” saed AEG’s spokesperson. “The parties anticipate closing the transaction in early October.”
Full Content: IQ