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TAO Group Partners With MSG
- Client News
- February 2, 2017
Paul, Weiss represented TAO Group in its partnership with The Madison Square Garden Company (MSG). Under the terms of the deal, MSG has acquired a 62.5 percent equity stake in a newly formed TAO Group for $181 million, plus a potential performance earn-out of up to $25.5 million. TAO Group's management team will retain a 37.5 percent interest in the newly formed TAO Group and will continue to run the day-to-day operations of the business. The TAO Group owns and operates 19 venues in New York City, Las Vegas and Sydney, Australia.
The Paul, Weiss team included, among others, corporate partners Thomas de la Bastide, Robert Schumer, Raphael Russo and John Kennedy; tax partners Jeffrey Samuels and David Mayo; employee benefits partner counsel Reuven Falik; intellectual property partner Chuck Googe and counsel Menachem Kaplan; real estate partner Harris Freidus and counsel Barry Langman; litigation partners Stephen Lamb and Aidan Synnott; antitrust counsel Marta Kelly; and environmental counsel William O'Brien.