London - Live Nation (NYSE: LYV), a concert promoter and owner of live event venues worldwide, announced on Friday that it will acquire a 65% controlling stake in Mirage Promotions, a Dubai-based concert promoter.

Financial terms of the transaction were not disclosed.

Mirage has staged shows in Dubai and other cities in the region featuring acts including Aerosmith and Santana; the company also secures acts for corporate clients in the region, having recently booked artists such as Diana Ross, Bryan Adams and the Gipsy Kings.

"The launch of our Dubai office is another milestone in our organization's expansion into international territories," said Alan Ridgeway, Live Nation's CEO of international music.

"Dubai and Abu Dhabi have been growing rapidly over the last few years -- Dubai's population alone is expected to reach 1.6 million by 2010, with tourism to expand to 15 million by 2010.

There is now a significant demand for live entertainment in the region and the world's top artists are more and more interested in playing there."

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