Live Nation acquire Vector Arena in Auckland
Live Nation NZ and MHC Investments have been cleared to acquire Auckland’s 12,000-capacity Vector Arena in New Zealand for an undisclosed sum.

Live Nation NZ and MHC will buy all the shares of EVENZ, the owner of NZ Venue & Event Management, which is the beneficiary of the QPAM trust that owns and operates Vector Arena, according to the decision by the Overseas Investment Office.

Under the terms of a development agreement with Auckland Council-controlled Regional Facilities Auckland, the arena must be returned to the council after 40 years.

Live Nation NZ is 70% owned by Live Nation’s Ticketmaster NZ business, with the remaining 30% owned by MHC, an investment vehicle of promoter Michael Coppel (pictured) and Michelle Coppel.

Upcoming shows at the venue include Maroon 5, Imagine Dragons and KISS.

According to MusicWeek