THE LYCEUM Theatre, current home of West End smash The Lion King, could be in line for new owners after its private equity backers started exploring plans to exit the theatre business.
Exponent Private Equity, the UK mid-market buyout shop, is thought to have appointed UBS to explore options for its stake in portfolio company Ambassador Theatre Group, which owns the theatre.
The news, first reported by Sky News yesterday, would see Exponent offload its 55 per cent stake to new owners. The other owners would remain unchanged.
Ambassador is the largest operator of theatres in the UK and boasts former BBC director general Greg Dyke as its executive chairman. Exponent also owns thetrainline.com and Quorn Foods.