Live entertainment giant Live Nation is seeking acquire a majority stake in Portuguese promoter, Ritmos e Blues and Arena Atlântico, the operator of Lisbon’s Altice Arena.
Live Nation has reportedly filed notice about the deal with Portugal’s competition regulator.
The deal was first reported by Portuguese newspaper Público, with Live Nation set to acquire an indirect controlling stake in the promoter, which has operated the 20,000-capacity Altice Arena through a consortium with Música no Coraçã owner Luís Montez and Jorge Vinha da Silva, among others, since 2013.
Live Nation has had an existing partnership with Ritmos e Blues since 2011 to promote live music events in Portugal.
Ritmos e Blues is also the co-promoter of music festival Rock in Rio Lisbon, which has been taking place since 2004.
Ritmos e Blues are currently promoting shows for artists such as Rod Stewart, Madonna, band Blink-182 and comedian Rickey Gervais.