CTS Eventim AG & Co. KGaA

  • WKN: 547030
  • ISIN: DE0005470306
  • Land: Deutschland

Nachricht vom 19.12.2019 | 15:30

CTS Eventim AG & Co. KGaA: Joint Venture of CTS EVENTIM and Kapsch TrafficCom quantifies its claims against the Federal Republic of Germany at approx. EUR 560 millions

CTS Eventim AG & Co. KGaA / Key word(s): Statement
CTS Eventim AG & Co. KGaA: Joint Venture of CTS EVENTIM and Kapsch TrafficCom quantifies its claims against the Federal Republic of Germany at approx. EUR 560 millions

19-Dec-2019 / 15:30 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Ad hoc ANNOUNCEMENT

Joint Venture of CTS EVENTIM and Kapsch TrafficCom quantifies its claims against the Federal Republic of Germany at approx. EUR 560 millions


Munich/Vienna, 19 December 2019. autoTicket GmbH is the project company for the implementation of infrastructure levies contemplated by the Federal Republic of Germany (tolling system for small vehicles - so-called "Pkw-Maut"). It is a 50/50 joint venture of CTS EVENTIM AG & Co. KGaA and Kapsch TrafficCom AG as shareholders.

Following the termination of the operating agreement regarding the infrastructure levies with effect as of 30 September 2019 by the Federal Ministry of Transport and Digital Infrastructure, autoTicket GmbH and its two shareholders decided today that the contractually agreed payment claims against the Federal Republic of Germany amount to a total of approx. EUR 560 millions and to assert claims in this amount in several steps now.

The contracting parties have agreed on a compensation after termination of the agreement by the Federal Republic of Germany for a reason such as the present one, equal to the loss of profits over the term of the agreement (i.e. enterprise value minus expenses saved due to the termination). In addition the operating agreement provides for a compensation of the costs arising from the termination of the agreement which includes compensation claims of subcontractors.

The operating agreement provides for an efficient procedure for dispute resolution: First an independent auditor shall validate the amount of the asserted loss of profits. Thereafter an arbitral tribunal will decide on the correctness of all asserted claims.

About CTS EVENTIM
CTS EVENTIM is one of the leading international providers of Ticketing and Live Entertainment. In 2018, approx. 250 million tickets were marketed using the company's systems - through stationary box offices, online or mobile. Its online portals operate under brands such as eventim.de, oeticket.com, ticketcorner.ch, ticketone.it, and entradas.com. The EVENTIM Group also includes many concert, tour and festival promoter companies for events like 'Rock am Ring', 'Rock im Park', 'Hurricane', 'Southside', and 'Lucca Summer'. In addition, some of Europe's most renowned venues are operated by CTS EVENTIM, for example the LANXESS arena in Cologne, the Waldbühne in Berlin and the EVENTIM Apollo in London. CTS EVENTIM AG & Co. KGaA (ISIN DE 0005470306) has been listed on the stock exchange since 2000 and is currently a member of the MDAX segment. In 2018, its 3,141-strong workforce generated more than 1.2 billion Euros in revenue in 21 countries.

 

For more information:

Corporate Communications:
Thomas Kollner
Tel.: +49.40.380788.7299
thomas.kollner@eventim.de

Investor Relations:
Marco Haeckermann
Vice President Corporate Development & Strategy
Tel.: +49.421.3666.270
marco.haeckermann@eventim.de

 

 


19-Dec-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



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