The company was previously known as Nine Live and has doubled in size since Affinity bought in for $640 million in 2015. Potential buyers will be keen to understand the TEG growth story. The chunky TEG auction is expected to attract interest from a raft of international and local strategic players including online marketplace eBay, European ticketing operator Eventim, e-commerce giant Amazon and ASX-listed Telstra. TEG owns Ticketek Australia and New Zealand, TEG Live, Softix, Eventopia and Sydney's Qudos Arena, and has turned its acquisitive attentions to Asia's ticketing and technology sectors over the past 18 months. The asset, run by the highly regarded Geoff Jones, may fetch north of $1.2 billion, sources said. It is understood Goldman will launch an auction before Christmas for what is the largest live events and ticketing business in the Asia Pacific region. Asia-based private equity powerhouse Affinity has appointed Goldman Sachs to run a trade sale process for TEG, as first reported by Street Talk.
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