Ashurst advises Tasheel on recommended cash offer for Arena Events Group

Bidco was formed for the purposes of the Acquisition and it is intended that Bidco will be directly or indirectly owned by the Consortium in the following proportions: (i) IHC will own 70% of Bidco; and (ii) Tasheel will own 30% of Bidco. Tasheel already owns 77,979,235 Arena shares, representing approximately 23.9% of Arena's issued share capital and is rolling these shares into Bidco as part of the Acquisition. Pursuant to the terms of the offer, each scheme shareholder will be entitled to receive 21 pence in cash per share.

Arena is a turnkey event solutions provider, supplying temporary physical structures, seating, exhibition services, refrigeration, barriers & fencing, ice rinks, furniture, and interiors servicing some of the most prestigious sporting, outdoor and leisure events across the UK & Europe, Middle East & Asia, and the Americas. Arena is headquartered in the UK and was admitted to trading on AIM in July 2017.

The Ashurst team was led by corporate partner James Fletcher, who was supported by senior associate Nick Lever and associates Jasmin O'Reilly and Jo Lee . In Abu Dhabi, partner Simon Fraser advised together with senior associate Matt Hartsuyker. Partner Steven Vaz, counsel Maria Held and associate Hayden Dunnett are also advising on competition and foreign direct investment law aspects of the transaction.