California-based private equity firm Silver Lake Partners agreed to acquire Australian live entertainment company TEG Pty. Ltd. from funds advised by Affinity Equity Partners.

Financial terms of the transaction were not disclosed.

TEG provides ticketing services for events such as concerts, live sports, theatrical shows, festivals and exhibitions.

In 2015, Nine Entertainment Co. Holdings Ltd. sold TEG, then called Nine Live, to Affinity Equity Partners for A$640 million. TEG reportedly began its sale process in November 2017.

The transaction is expected to close later in 2019, subject to customary closing conditions including approval by the Australian Foreign Investment Review Board.

Goldman Sachs and King & Wood Mallesons acted as advisers for TEG. Latham & Watkins and Corrs Chambers Westgarth acted as advisers for Silver Lake.