Silver Lake to invest $500 mln in City Football Group
Summary
Abu Dhabi United Group, the investment vehicle owned by His Highness Sheikh Mansour bin Zayed Al Nahyan, remains the majority CFG shareholder (c.77%). In addition, c.12% of CFG equity remains held by a consortium of Chinese institutional investors led by China’s leading media and entertainment conglomerate CMC Inc. Pursuant to the agreement, the Board of the City Football Group Holding Company will increase from eight to nine members. We are excited to partner with the Board and CFG’s world-class management team to help drive the next phase of CFG’s growth in the fast-growing premium sports and entertainment content market.” The transaction is subject to customary closing conditions including regulatory approval in some territories. Until December 2015, City Football Group was wholly owned by ADUG, a private investment and development company belonging to His Highness Sheikh Mansour bin Zayed Al Nahyan. Based out of Chinese Mainland and Hong Kong, CMC Inc. is known for its prominent strengths in premium content of multiple genres, which include film, drama, variety show, game, financial media, short video, fashion & lifestyle, concert, theatre, live entertainment event, sports, music, and a comprehensive scope of content related businesses such as artist and sports agency, cinema, theme park, and urban recreational complex.