As announced on 19 June 2015, funds advised by CVC Capital Partners ("CVC") signed an agreement to acquire a majority stake in international musical and theatre group, Stage Entertainment.
It was also announced on 28 August 2015 that the former Endemol CEO, Just Spee, has been appointed as CEO of Stage Entertainment, effective from 1st September.
Closing of the transaction was subject to European and Russian merger approval, which was received in August, and following satisfaction of all other pre-closing conditions, the transaction has now closed today.
Under the terms of the transaction, CVC has acquired a 60% stake from the company's founder, Joop van den Ende, who will remain a 40% shareholder in the business.
Joop van den Ende and Ivo Lurvink (CVC Capital Partners) said: 'As joint shareholders, we are delighted to have closed the transaction and welcomed Just on board as CEO, and we now look forward to working in partnership together to delivering an exciting future for our audiences, our IP partners and for
Stage Entertainment.'
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