Joop van den Ende allowed the majority of his shares in musical producer Stage Entertainment sold to private equity house CVC. The European Commission has given its approval to this Friday.
In June, the 73-year-old Van den Ende announced an interest to do 60% of the hand to a Luxembourg investment vehicle CVC . Itself retains the founder of the company 40% of the shares.
The Commission approves the sale because it is not barred by competition concerns. “None of the companies owned by CVC is active in the same markets as Stage Entertainment,” the statement said.
Van den Ende will remain in the coming years as a senior producer involved with Stage Entertainment. In an interview with the FD Van den Ende said recently that Stage, with the new financially strong shareholder on board, the number of visitors should increase considerably to twenty million annually.
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