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Monday, April 15, 2024

Latham, Linklaters advise on IMG´s acquisition of MM Open and Acciona Open from SSL

Latham & Watkins has advised IMG on its acquisition of the combined share and assets of leading tennis tournament the Mutua Madrid Open, and the Acciona Open de España golf tournament from Super Slam Limited, advised by Linklaters. The deal, announced in December 2021, has been closed after the required approvals

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Super Slam Limited, and its affiliates, have completed the combined share and asset sale of leading tennis tournament the Mutua Madrid Open, and the Acciona Open de España golf tournament to IMG, a global sports, events and talent management company, headquartered in New York and wholly owned by the Endeavor group.

Through the acquisition, Madrid Trophy Promotion SLU (MTP), the Spanish entity that operates the tournament, will become part of IMG. MTP also runs the European Tour’s Acciona Open de España golf tournament, which IMG’s golf events division will support. 

The Mutua Madrid Open, which boasts an illustrious list of winners including Roger Federer, Serena Williams, Rafael Nadal and Novak Djokovic, will join IMG’s roster of leading tennis tournaments, including the Miami Open and several other ATP and WTA events.

The deal, announced in December 2021, has completed after receiving ATP / WTA and regulatory approvals.

Linklaters worked closely with Romanian law firm Filip & Co. on advising Super Slam Limited, which is owned by the Tiriac Group, a large and diversified business group, operating in the following main sectors: automotive, real estate, financial services, air transportation and energy.

Latham & Watkins represented IMG on this deal with a cross-border deal team led by New York M&A partner Justin Hamill, London M&A partner Edward Barnett, and London Entertainment, Sports & Media partner Patrick Mitchell, with London associates Jennifer Cadet, Stewart Robinson, and Leah Adeniran. Advice was also provided on Corporate matters by Madrid partner María José Descalzo, with trainees Elena Martínez de Luco and Alba Arqué; on Employment matters by Madrid partner Naiara Rodríguez-Escudero; on Antitrust matters by Madrid partner José María Jiménez-Laiglesia and Brussels partner Sven Völcker, with associates Carlos Betoret and Susanna Dittrich Ingunza; and on Tax matters by London partner Sean Finn, Madrid partner Iván Rabanillo, and New York partner Matthew Dewitz, with associate Alan Kimball.

Linklaters advised Super Slam Limited with a cross-border team comprised of partner Daniel Cousens, counsel Chris Quinn (both Warsaw) and managing associate Avi Cohen (London) who advised on the Corporate aspects of the deal, alongside partner Chris Smale and associate Ellie Hiskett (both London) who advised on Tax, and consultant Juan Passás (Madrid) who advised on the Antitrust aspects. 

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