SBE Entertainment Group is rumored to be talking about combining efforts with Hakkasan Group, which runs nightclubs and events in Las Vegas and the Middle East. The two companies are reportedly interested in expanding their current market and expand beyond their respective geographies.
The two companies together would have a combined equity value of about $1 billion and a deal is set to be revealed within the next 60 days. SBE runs SLS and restaurants like Katsuya, and they hope that the two of them combining would mean that they can continue to create “the most dynamic hospitality, residential, restaurant and entertainment company in the industry.”
More information can be found via the Wall Street Journal here.