June 11 Buyout firm Exponent Private Equity is
planning to sell its controlling stake in British theater
company Ambassador Theatre Group, Sky News reported, citing
sources familiar with the matter.
Exponent is in talks with investment bankers about the
potential sale of its majority stake in Ambassador, which it
bought for 134 million pounds ($209 million) in November 2009,
the broadcaster reported on its website.
Exponent is expected to appoint advisers for the sale in
September, and a deal could take place as soon as the first
quarter of 2014, Sky said.
Ambassador's 39 venues in Britain include the historical
Lyceum, Duke of York's and Apollo Victoria theatres - home to
productions of "Wicked," "The Lion King," "Madame Butterfly,"
and J. M. Barrie's "Peter Pan," when it debuted in 1904. The
company in May bought New York's Foxwoods Theatre for about $65
Exponent was not immediately available to comment.