AEG has entered into a conditional agreement to buy legendary London venue Hammersmith Apollo from HMV Group, Music Week has reported.
The transaction is currently pending competition clearance in the UK and Germany, as well as HMV Group plc obtaining shareholder approval.
AEG Live has entered into the acquisition alongside German company CTS Eventim AG, as a jointly owned new company: Stage C Limited.
With a capacity of over 5,000, Hammersmith Apollo is one of the capital’s most iconic entertainment venues, featuring live music, comedy and family entertainment events. Notable artists who have performed at the venue include Queen, Oasis, Michael McIntyre and Billy Connelly.
AEG currently owns and operates The O2 and IndigO2 music club both in Greenwich, London.
In a statement, the firm said: "The Hammersmith Apollo will provide a complementary fit to both AEG and CTS’s existing UK operations."
The Mama Group purchased Hammersmith in 2007, before being taken over by HMV Group in 2010.
HMV is currently in the process of selling its Live assets in a bid to clear its debts.
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