White & Case advises PPF Group on partnership with Live Nation on O2 arena, O2 universum and Forum Karlín in Prague

Global law firm White & Case LLP has advised PPF Group, an international investment group, on the transaction to form a joint venture with Live Nation which will operate flagship live entertainment venues in Czechia including theO2 arena, O2 universum and Forum Karlín.

The partnership will combine PPF's strong creative local content and venue ownership with Live Nation's global expertise and experience in the management of live entertainment venues.

After completion, Live Nation will hold a 51% stake in the joint venture and PPF Group, through its wholly owned subsidiary Bestsport, will hold 49% and continue to own O2 arena, O2 universum and all related real estate assets. O2 arena, O2 universum and Forum Karlín will continue to operate under their established brands. PPF retains the ownership of its O2 branded multipurpose venues.

The joint venture represents a significant increase of the scale, frequency and international profile of local and international events in Czechia.

The White & Case team which advised on the transaction was led by partners Petr Pánek, Karel Petržela and local partner Jana Chwaszcz and included partner Ivo Janda and associates Lucie Kunclová and Jan Vlček (all Prague), with support from partners John Cunningham (London) and Jonathan Weinberg (Prague).

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