SoftBank, the Japanese technology group, has invested $250m in WME-IMG, which represents stars ranging from actor Ben Affleck to tennis player Serena Williams, in a deal that values the entertainment, sports and fashion company at $5.5bn.
The deal will be announced on Wednesday, according to people familiar with the matter, and represents a steep increase in the value of WME-IMG over the past two years. The companies declined to comment.
In 2014 WME, run by Ari Emanuel and Patrick Whitesell, completed the $2.4bn acquisition of IMG, the sports and fashion marketing company, and secured a second round of investment from Silver Lake. The private equity firm first bought into WME in 2012, paying $200m for a 31 per cent stake.
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