Philippi Prietocarrizosa Ferrero DU & Uría (Peru) has helped US entertainment giant Live Nation acquire a 51% stake in Peruvian concert promoter Bizarro.
The deal closed on 22 January for a confidential amount.
The buyer made the purchase through its local subsidiary Live Nation Perú, allowing the international company to expand its Peruvian footprint and continue to grow its live entertainment platform across Latin America.
Now a shareholder in the group, Live Nation will work alongside Bizarro’s Lima-based management team to expand its local offering of international tours and live experiences.
The purchase comes after a busy year for Live Nation’s Latin American deal-making. In October, Tauil & Chequer Advogados in association with Mayer Brown helped the US entertainment giant on its acquisition of a majority stake in Brazilian ticketing platform Balada Bilheteria Digital, with Bronstein, Zilberberg, Chueiri & Potenza Advogados guiding the sellers. While just months earlier, Mexico’s Creel, García-Cuéllar, Aiza y Enríquez SC helped Live Nation increase its stake in Mexican promoter OCESA. Cuatrecasas (Mexico) advised the target. Those deals came after Live Nation purchased Dominican concert promoter SD Concerts in May, with Squire Patton Boggs Peña Prieto Gamundi in Santo Domingo advising the buyer and OMG in Santo Domingo advising the seller.
Counsel to Live Nation
Philippi Prietocarrizosa Ferrero DU & Uría (Peru)
Partner Rafael Boisset and associates Jose Antonio Salgado, Steven Hu, Estefania Correa and Alexa Adriazola in Lima
