AEG Facilities' Application To Run Wembley Arena Approved By Competition Commission

AEG Facilities had its application to run Wembley Arena approved by the Competition Commission. The completion of the 15-year deal with owner Quintain Estates and Development plc. sees AEG increase its offering of live entertainment and sport in London in top venues along with its five-year contract for outdoor concerts and events in Hyde Park. Purchased by Quintain in '02 as part of a deal in which it bought 44 acres of former exhibition lands around the old Wembley Stadium, Wembley Arena sits at the heart of Quintain's ongoing project to revitalize Wembley Park with the creation of new shops, homes and leisure facilities. AEG's application to run Wembley Arena was passed to the Competition Commission in March and then provisionally cleared in July before receiving the final approval this month (AEG).