The investment in LiveNation is the second by the Saudi government this month in an industry hit hard by the pandemic.
The government of Saudi Arabia's sovereign wealth fund has acquired a 5.7 percent stake in Live Nation, the parent company of Ticketmaster.
Based on Live Nation’s share prices as of this writing, the investment is valued at just shy of $500 million. Live Nation's share price jumped at the news, rising by more than 2 percent in the first few minutes of trading. The investment is passive, and was purchased on the open market. The company has been taking action to bolster its liquidity amid the crisis, including opening a new $120 million revolving credit account, amending an existing credit agreement and significantly reducing costs, including salary reductions.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Saudi Arabia Buys $500 Million Stake In Live Nation, Stock SurgesThe firm has been hit particularly hard by the novel coronavirus pandemic, with essentially all concerts and sporting events around the world on hold.
続きを読む »
Saudi Arabia’s Public Investment Fund Acquires 5.7% Stake in Live NationThe Public Investment Fund, Saudi Arabia’s sovereign-wealth fund, recently purchased a large stake in Live Nation Entertainment, the world’s largest live-entertainment company, according to S…
続きを読む »
Saudi Arabia partially lifts curfew, keeps 24-hour curfew in Mecca - SPASaudi Arabia's King Salman issued an order to partially lift the curfew in all regions of the kingdom, to become from 9 a.m. to 5 p.m., starting Sunday through Wednesday May 13, while keeping a 24-hour curfew in Mecca and in previously isolated neighbourhoods, state news agency (SPA) said early on Sunday.
続きを読む »
How the oil price capitulation will hit Nigeria, Saudi Arabia and other major exportersThe historic plunge in oil prices earlier this week has left some major exporters of the commodity scrambling to shore up their economies.
続きを読む »
Saudi Arabia partially lifts coronavirus curfews, but Mecca still on 24-hour lockdownSaudi King Salman also ordered that some businesses be allowed to reopen as the kingdom loosened lockdown measures.
続きを読む »
Saudi Arabia ends death penalty for minors and floggingsSaudi Arabia's King Salman has ordered an end to the death penalty for crimes committed by minors, according to a statement Sunday by a top official.
続きを読む »