The agency IMG Worldwide sold to William Morris Endeavor Entertainment for $2.3 billion

The investment firm Forstmann Little & Co, owner of the media and marketing rights agency IMG, announced that they have reached an agreement for the sale of IMG with Silver Lake Partners and WME (William Morris Endeavor Entertainment), on the 18/12/2013.

The financial services companies, Morgan Stanley and Evercore, were mandated by Forstmann Little & Co to conduct the sale of IMG, on the basis of an auction which started on the 30/09/2013. The American press estimated the potential amount of the transaction between 2 and 2.5 billion dollars (1.5 to 1.85 billion euro). They now estimate the amount paid by Silver Lake Partners and WME at 2.3 billion dollars, or about 1.7 billion euro.

WME are one of the biggest talent agencies in the United States and Europe, specialising in music, literature and cinema. The agency, whose headquarters are located in Beverly Hills (California, USA) notably represent the interests of American movie stars Matt Damon and Ben Affleck.

31% of WME's capital is owned by investment firm Silver Lake Partners.

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