Live Nation to acquire Italy's ForumNet, valued at $106 million
Feb 4 (Reuters) - Live Nation Entertainment LYV.N said late on Tuesday it had agreed to buy Italy-based venue operator ForumNet from holding firm Bastogi BTGI.MI, strengthening its presence in Italy's live entertainment market.
Bastogi said the deal valued ForumNet at an enterprise value of 90 million euros ($106 million), with the final price to be adjusted at closing. The theoretical equity value would be about 103 million euros, following a positive net adjustment of around 13 million euros, it added.
The transaction is expected to be completed in April, subject to customary closing conditions, Live Nation said.
The deal centres on Milan's Unipol Forum, a major indoor arena hosting concerts, sports events and congresses. The venue will also stage figure and short track speed skating during the 2026 Winter Olympics.
"These venues have been at the heart of Milan's cultural life for decades. Partnering with Live Nation ensures they will continue to thrive, welcoming fans and artists from both Italy and around the world for years to come," Bastogi Group President Marco Cabassi said.
($1 = 0.8466 euros)
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