Pacha Group sale 'practically done,' says owner Ricardo Urgell
Owner of Ibiza's Pacha nightclub, Ricardo Urgell says the deal to sell the long-established nightclub is 'practically done'. Urgell will not be completely out of the nightlife entertainment biz, however, as told by RA's Carlos Hawthorn.This article originally appeared on Resident Advisor
Pacha Group owner Ricardo Urgell has confirmed that the deal to sell the company is "practically done."
Pacha Group, the Ibiza-based clubbing conglomerate that owns dozens of venues and hotels around the world, went on sale for €500 million in September. The current deal, tabled by private equity outfit Trilantic Europe, is worth €350 million. "In a few days we will see the sad news of the sale of Pacha Group in the world's press," said Urgell in an interview with Diario De Ibiza, published today, October 17th. "The deal is practically done, but it's still not sealed."