Americana Live Nation buys controlling share in Altice Arena

 In Companies, Entertainment, News

The US concert promoter Americana Live Nation is to buy a controlling share in the Portuguese promoter Ritmos & Blues and in Arena Atlântico S.A.

The deal is subject to the agreement of the competition authority. Ritmos & Blues was founded by Nuno Braamcamp and Álvaro Ramos in the 1990s. It also owns Altice Arena, the largest concert and show venue in Portugal.
“Live Nation Entertainment has signed an agreement to buy a controlling share in Altice Arena in Lisbon”, an official source at Altice Arena told ECO.
“The acquisition of a majority share in Ritmos & Blues, one of the current shareholders of Altice Arena, was an integral part of the overall agreement”.
The deal would also include all respective subsidiaries including a minority shareholding in BlueTicket.
A consortium is behind the company Arena Atlântico which includes Ritmos & Blues, Luís Montez (sole stakeholder) and owner of the show promoter Música no Coração, and Jorge Vinha da Silva who is the CEO of Arena Atlântico.
Live Nation Entertainment has been active in Portugal through promoting the Rock in Rio festival in Lisbon.