TEG dividend recap mooted as sale talk cools

TEG’s owner is seeking a dividend recapitalisation as an alternative to selling the Aussie live entertainment giant, according to a new report.

Private-equity firm Silver Lake enlisted Jefferies’ bankers to launch a sales process for TEG earlier this year, but failed to agree a sale despite interest from fellow investment companies Blackstone and KKR, reports the Australian Financial Review.

Concert promotion, ticketing and technology firm TEG operates out of seven countries worldwide with offices in Australia, New Zealand, south-east Asia and the UK.

Silicon Valley-based Silver Lake acquired the business from another investment company, Affinity Equity Partners, in 2019 in a reputed A$1.3bn deal.

The AFR says Silver Lake’s asking price for TEG was believed to be around 50% higher than the company was…

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