| Deal Structure and Party Summary | ||
|---|---|---|
| Deal Structure | Stock or Equity Purchase | |
| Acquirer | Mohari Hospitality Limited | |
| Public | No | |
| Industry | Real Estate (incl. hotels) | |
| Additional Acquirer(s) | Disco Ball Intermediate, LLC | |
| Private equity sponsorship | No | |
| Seller | Madison Square Garden Entertainment Corp. | |
| Public | Yes | |
| Industry | Consumer Products (food & household products, entertainment) | |
| Private equity sponsorship | No | |
| Target | Tao Group Hospitality | |
| Public | No | |
| Industry | Real Estate (incl. hotels) | |
| Private equity sponsorship(s) | No | |
| Key Transaction Characteristics and Terms | ||
|---|---|---|
| Status | Pending | |
| Announcement date | April 17, 2023 | |
| Transaction value | $550 million | |
| Form of consideration | Cash | |
| Go-Shop/No-Shop Terms | ||
|---|---|---|
| No-Shop Provision | Yes | |
| Transaction Advisors | ||
|---|---|---|
| Seller / Target Counsel | ||
| Law firm #1 | Shearman & Sterling LLP | |
| Individual attorney(s) | Clare O’Brien | |
| Law firm #2 | Kirkland & Ellis LLP | |
| Individual attorney(s) |
David M. Klein; Allison M. Wein |
|
| Acquirer Counsel | ||
| Law firm #1 | Hughes Hubbard & Reed LLP | |
| Individual attorney(s) |
Kenneth A. Lefkowitz; Michael Traube |
|
| Seller / Target Financial Advisors | ||
| Financial advisor #1 | Goldman Sachs & Co. LLC | |
| Acquirer Financial Advisors | ||
| Financial advisor #1 | Moelis & Company LLC | |