U.S. Markets closed

BlackRock poised to become Authentic Brands' largest shareholder -WSJ

Aug 11 (Reuters) - BlackRock Inc is taking a stake in Authentic Brands Group LLC in a deal valuing the U.S.-based entertainment company at more than $4 billion including debt, the Wall Street Journal reports on Sunday citing sources.

BlackRock is poised to become the largest shareholder of the company, replacing private-equity firm Leonard Green & Partners as Authentic Brands' largest shareholder, the WSJ https://www.wsj.com/articles/blackrock-to-take-stake-in-owner-of-sports-illustrated-nine-west-11565536592 said.

BlackRock and Authentic Brands were not immediately available for a comment on the report.

(Reporting by Rishika Chatterjee in Bengaluru; Editing by Lisa Shumaker)