CTS Eventim AG & Co. KGaA
CTS Eventim AG & Co. KGaA: CTS EVENTIM strengthens market position in France by acquiring stake in France Billet
DGAP-News: CTS Eventim AG & Co. KGaA
/ Key word(s): Investment
PRESS RELEASE
Munich/Ivry, 31 October 2019. CTS EVENTIM, one of the world’s leading providers of ticketing and live entertainment, is significantly strengthening its position in France by acquiring a stake in the country’s ticketing market leader, France Billet. CTS EVENTIM and Fnac Darty (owner of France Billet) have successfully concluded their negotiations, ongoing since end of July, regarding a strategic partnership for their French ticketing activities. The transaction was signed today and will be formally closed shortly. As planned, in a first step CTS EVENTIM will acquire 48 percent of the shares in France Billet, the ticketing subsidiary of Fnac Darty. At the same time, the company will merge its existing activities in France into the partnership. CTS EVENTIM also has the option to acquire a majority stake four years from the date of the closing of the transaction. Klaus-Peter Schulenberg, CEO of CTS EVENTIM, commented: “By partnering with Fnac Darty, CTS EVENTIM significantly enhances its market position in an economically attractive and culturally diverse market. I’m delighted that we were able to successfully conclude our constructive talks in such a short time. Now we will work together on ensuring that France Billet can profit from our technology and our pan-European network as best as possible. We want to offer our customers in France attractive services, a powerful platform, and a wide range of offerings.” The joint venture will continue to do business as France Billet. All established retail brands will remain in place. In addition to francebillet.com, these include eventim.fr, fnacspectacles.com and billetreduc.com. Enrique Martinez, CEO of Fnac Darty, added: “We are very pleased to have concluded negotiations with CTS EVENTIM. That shows our common will to accelerate in this rapidly changing market, to pave the way for new avenues of development for France Billet, and strengthen its offer and its innovative capacities in a competitive sector. France Billet will take advantage of the know-how and the strength of the Fnac brand as well as CTS EVENTIM’s expertise and importance.” As a minority shareholder, CTS EVENTIM will account for its shareholding in France Billet at equity. In the event that the call option is exercised four years later, this opens up the possibility of full consolidation. About Fnac Darty For further information, contact: Investor Relations: Fnac Darty Press: Analysts & Investors: Adrien Brangier
31.10.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | CTS Eventim AG & Co. KGaA |
Rablstr. 26 | |
81669 München | |
Germany | |
Phone: | 0421/ 3666-0 |
Fax: | 0421/ 3666-290 |
E-mail: | info@eventim.de |
Internet: | www.eventim.de |
ISIN: | DE0005470306 |
WKN: | 547030 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 902269 |
End of News | DGAP News Service |