MSGE - MSG Entertainment reportedly closing in on $550M deal to sell Tao Group

2023-04-17 11:16:21 ET

• Mohari Hospitality is reportedly in advanced talks to take over Tao Group Hospitality from Madison Square Garden Entertainment ( NYSE: MSGE ), for more than a half-billion dollars.
• MSG Entertainment said in early February that is was exploring a potential sale of its majority interest in Tao Group, which encapsulates brands including Tao, Hakkasan, Lavo, Marquee, Omnia, Beauty & Essex, Stanton Social Prime and others.
• Now Mohari is in pole position for a deal that could be valued at $550M, Bloomberg reported.
• Mohari's portfolio already includes investments in Costa Rica's Peninsula resort, Miami's Waldorf Astoria, Washington's Four Seasons Private Residences and Ritz-Carlton cruises.

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