DGAP-News: CTS Eventim AG & Co. KGaA: CTS EVENTIM strengthens market position in France by acquiring stake in France Billet

2019. október 31., csütörtök, 18:06







DGAP-News: CTS Eventim AG & Co. KGaA


/ Key word(s): Investment






CTS Eventim AG & Co. KGaA: CTS EVENTIM strengthens market position in France by acquiring stake in France Billet







31.10.2019 / 18:06




The issuer is solely responsible for the content of this announcement.



PRESS RELEASE

CTS EVENTIM strengthens market position in France by acquiring stake in France Billet



  • Negotiations on strategic partnership with Fnac Darty successfully finalized

  • CTS EVENTIM to take over 48 percent of shares in French market leader France Billet

  • Option to acquire majority stake four years later

  • Existing French ticketing activities of CTS EVENTIM to become part of joint venture

  • Transaction to be formally closed shortly

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 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.



About Fnac Darty

Operating in twelve countries, Fnac Darty is a European leader in the retail of entertainment and leisure products, consumer electronics and household appliances. The group counts 25,000 employees and, as of the end of 2018, has a multi-format network of 780 stores, including 571 in France. Fnac Darty is France"s second e-commerce player in terms of traffic (near 20 million aggregated unique visitors per month) with its two retail websites, fnac.com and darty.com.
A standard-setting omni-channel retailer, Fnac Darty posted pro forma revenues of EUR7.475 billion in 2018.

 



For further information, contact:

CTS EVENTIM

Corporate Communications:

Christian Steinhof

Head of Corporate Communications

Tel.: +49.40.380788.7299


christian.steinhof@eventim.de



Investor Relations:
Marco Haeckermann
Vice President Corporate Development & Strategy
Tel.: +49.421.3666.270

marco.haeckermann@eventim.de



Fnac Darty



Press:

Audrey Bouchard

Tel.: +33.1.5521.5925


audrey.bouchard@fnacdarty.com



Analysts & Investors:
Stéphanie Constand
Tel.: +33.1.5521.1863

stephanie.constand@fnacdarty.com



Adrien Brangier

Tel.: +33.1.5521.8441


adrien.brangier@fnacdarty.com
















31.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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





902269  31.10.2019 



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