Tasheel exits London’s Arena Events as ADQ-backed Modon buys in

Jeddah-born Tasheel Holding Group is set to divest its 30% stake in London-based ArenaEvents Group, as Abu Dhabi sovereign wealth fund (ADQ) backed Modon Holding moves to take over its parent company Theta Bidco, according to a press release (pdf). The freshly-inked definitive agreement will also see Arena Event’s largest shareholder, UAE-born conglomerate IHC, offload its 70% stake in the company. Upon fruition, Modon Holding will own 100% of Arena Events. The transaction is expected to close by the end of next month.

What we don’t know: There’s no publicly available information about the terms, structure, or size of Modon Holding’s planned investment in the large-scale events management company.

This is a related party transaction: IHC Group, one of the sellers, is also a majority shareholder in the buyer Modon Holding.

The rationale: “The acquisition…represents [Modon’s] first significant entry into North America, which is the largest revenue generating region for Arena, housing almost half of its +1k global workforce. With the projected rise in global live event attendance over the foreseeable future, coupled with increasing focus from event organizers to invest in high-quality viewing experiences and hospitality offerings, Arena and Modon are ideally placed to enhance their respective market leading presence in the events sector globally,” the statement reads.

About Arena Events: Founded in 2007, Arena is a key partner of major golf tour operators, including PIF-backed LIV Golf. The event solutions provider operates across over 10 countries including the US, UK, and Saudi Arabia. Its ventures included delivering large-scale solutions for the 2024 Paris Olympics, Formula 1 races (in Abu Dhabi, Jeddah, Las Vegas, Miami and Austin), Wimbledon and the T20 World Cup in New York.