Chinese conglomerate Dalian Wanda is closing in on a deal to acquire the Infront Sports & Media agency, according to the Financial Times newspaper.
The deal, which would be reportedly worth about €1bn ($1.24bn), could be announced in the next few weeks, sources told the Financial Times.
The company specialises in property, but is seeking to increase investments in other sectors, including media and entertainment.
In late November, Dalian Wanda was named as one of two Chinese companies interested in acquiring Infront. The identity of the other Chinese company was not disclosed, while US private investment group Providence was named as an interesting party.
Infront’s parent company, private equity firm Bridgepoint, set a deadline of the end of November for bids, with asset management firm Lazard advising the agency on the potential sale.
Infront last month signed a long-term agreement with pan-regional broadcaster Eurosport to consolidate its extensive portfolio of winter sports events through to the 2020-21 season. Under the deal, Eurosport will continue to offer live coverage of all International Ski Federation (FIS) Alpine, Cross-Country, Nordic Combined, Ski Jumping, Freestyle and Snowboard World Cup events, with a fresh five-year term running from 2016-17 onwards.