Stay Nation Leisure is about to amass an extra 24% stake in Mexican live performance promoter OCESA, accelerating a purchase order settlement.
The USD $646 million transaction, introduced Tuesday (July 29), will see Stay Nation enhance its possession in OCESA to 75% from its present 51% stakeholding.
Former OCESA proprietor, CIE (Corporación Interamericana de Entretenimiento), will retain a 25% stake.
As well as, Stay Nation has secured a contract with OCESA boss Alejandro Soberón to stay CEO of the corporate by 2032.
The deal is now anticipated to shut by the tip of August, following approval on the upcoming CIE shareholder vote.
A put/name settlement for CIE’s remaining 25% stake has been pushed again to 2032.
Stay Nation initially acquired a controlling 51% stake in OCESA in December 2021 for MXN $8.835 billion (USD $416 million at 2021 trade charges), following a deal that was initially agreed in 2019 however delayed because of the pandemic.
Stay Nation has confirmed to MBW that its new acquisition of the extra 24% in OCESA will price simply over MXN $12 billion (USD $646 million).
Throughout the 2 transactions (the 51% in 2021 and 24% in 2025), that’s comfortably greater than a billion {dollars} altering palms.
The rise in worth in OCESA’s fairness over the previous 4 years may have been influenced by the fast industrial development of the Mexican dwell market in the identical timeframe.
Talking as we speak, Michael Rapino, President and CEO of Stay Nation Leisure, stated: “Our funding in OCESA has been extremely profitable, and Alejandro and his group have executed an incredible job using the worldwide Stay Nation infrastructure to drive development in Mexico.
“Collectively we’ve got greater than tripled the variety of followers attending our concert events in Mexico since 2019, making Mexico now the third largest music market on this planet, and I count on we’ve got a few years of sturdy development forward of us.”
OCESA operates 13 venues throughout Mexico and promotes 1000’s of occasions yearly. Its ticketing arm, Ticketmaster Mexico, sells round 20 million tickets per 12 months.
Alejandro Soberón, Founder, Govt Chairman, and CEO of Grupo CIE, in addition to Founder and CEO of OCESA, stated: “Stay Nation and Michael Rapino have been preferrred companions.
“The mixture of our market information and Stay Nation’s experience have come collectively to create extra alternatives for artists to carry out in Mexico and for followers to get pleasure from these exhibits.”
The OCESA deal types a part of Stay Nation’s broader Latin American growth technique.
In Could, the corporate acquired Dominican Republic promoter SD Live shows, citing fan attendance within the area up over 25% within the first quarter of 2025.
Stay Nation has additionally expanded into Colombia by OCESA’s acquisition of Páramo Presenta, the promoter behind main festivals together with Estereo Picnic.Music Enterprise Worldwide
