AEG Bidding Down Drawing To Final Stages

LOS ANGELES (CelebrityAccess MediaWire) — AEG has reportedly narrowed down the crowd of potential bidders to three as the second round of bidding draws to a close.

According to Billboard.biz, the consortiums that are still in the hunt include a group led by billionaires Ron Burkle and Patrick Soon-Shiong with Goldman Sachs; New York-based private equity investor Guggenheim Partners; and a partnership between Colony Capital and Qatar Sovereign Fund, a sovereign wealth fund linked to the royal family of gulf state Qatar.

AEG announced that they were looking for a buyer last year and was seeking as much as $10 billion in the sale, but most analysts are expecting the final price to be in the $6-8 billion range.

In a recent interview with Billboard AEG CEO Tim Leiweke said that the bidding process had taken longer than expected because more bidders than anticipated had thrown their hats into the ring.

Other potential buyers who have been mentioned include Oracle's Larry Ellison and Steven Mnuchin, a former Goldman Sachs exec who is now at the helm of OneWest Bank. – CelebrityAccess Staff Writers

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