British West End theatre operator ATG Entertainment is being prepared for a possible sale by its private equity owner, sources say. Providence Equity Partners has held talks with advisers about selling its controlling stake.
The sale would revive an industry hit hard by pandemic lockdowns. ATG hosts popular musicals like The Book of Mormon, Wicked, and The Lion King.
One source said the sale could value the business at over 4 billion pounds ($5.38 billion). An auction could start in the second half of the year, but no final decision has been made.
Providence took control in 2013 for 350 million pounds. Blackstone bought a minority stake in 2024.
ATG operates over 70 venues in the UK, US, Germany, and Spain, entertaining over 18 million visitors annually.
