Hollywood tycoon Ari Emmanuel has snapped up the theatre group behind West End venues including the Savoy and the Ambassadors in a deal worth around £4.5bn.

The deal size has been estimated at $6 billion, as the live events company establishes a bigger foothold in the theater industry.

Mari, Ari Emanuel's new global events and experiences company, has acquired theater giant ATG Entertainment.

ATG , which has been owned by Providence since 2013, runs 10 venues in London’s West End.