US-based entertainment conglomerate Live Nation has completed its purchase of The O2 in Dublin, shelling out €35m to Nama to gain full ownership of what is understood to be the most profitable of all The O2 branded venues across the globe.
Live Nation already had a 50% stake in the venue and, with the €35m spent to secure full rights, values the property in the region of €70m. Nama took ownership of The O2 last year from Docklands developer Harry Crosbie, who has also recently offloaded assets including Crosbie's Yard Apartments, The Stock Yard offices and an industrial complex on Dublin's Hanover Street.
Beyonce, Ellie Goulding, Miley Cyrus, Dolly Parton and Bob Dylan are among those who have scheduled concerts in The O2 in the coming months and it's understood that the change in ownership won't affect the shows in any way.
Sources: Irish Independent | Music Week
