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Live Nation Expands Its Stake In OCESA

OCESA
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LOS ANGELES (CelebrityAccess) — Live Nation Entertainment and Corporación Interamericana de Entretenimiento announced that Live Nation will expand its stake in Latin promoter OCESA through the acquisition of an additional 24% of the company.

The deal will increase Live Nation’s total ownership of OCESA to 75%, with CIE retaining the remaining 25%. The put/call agreement for the remaining stake has been pushed to 2032.

As part of the transaction, Alejandro Soberón, Founder, Executive Chairman, and CEO of Grupo CIE, will continue as CEO of OCESA through 2032, according to Live Nation.

“Our investment in OCESA has been incredibly successful, and Alejandro and his team have done a tremendous job utilizing the global Live Nation infrastructure to drive growth in Mexico. Together we have more than tripled the number of fans attending our concerts in Mexico since 2019, making Mexico now the third-largest music market in the world, and I expect we have many years of strong growth ahead of us,” said Live Nation President & CEO Michael Rapino.

“Live Nation and Michael Rapino have been ideal partners. The combination of our market knowledge and Live Nation’s expertise has come together to create more opportunities for artists to perform in Mexico and for fans to enjoy these shows,” added Soberón.

The transaction is expected to close by the end of August, following approval at the upcoming CIE shareholder vote.

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