Munich, 2. June 2016. MDAX-listed CTS EVENTIM AG & Co. KGaA (ISIN DE0005470306) strengthens its leading position in European Live Entertainment promotions. CTS EVENTIM increases its shareholding to majority from 45% to 50,2% in the formerly “at equity” consolidated subsidiary FKP Scorpio Konzertproduktionen GmbH, Hamburg. The transaction is subject to approval by the responsible antitrust authorities.
By increasing its shareholding to 50,2% CTS EVENTIM AG & Co. KGaA gains direct access to a perfect growth platform via established German festivals like Hurricane, Southside, Highfield, Chiemsee Summer, M’era Luna, Deichbrand and additionally Provinssi in Finland, Bravalla in Sweden, Northside in Denmark, Greenfield in Switzerland, Nuke in Austria and Best Kept Secret in the Netherlands. Apart from its festival business, FKP Scorpio and its subsidiaries acts as touring partner in different European countries for various artists like Foo Fighters, Justin Bieber, Ed Sheeran, James Blunt, Mumford & Sons, Revolverheld and Blink 182.
With revenues of above 100m Euro in 2015 FKP Scorpio not only represents a consequent expansion of its Live Entertainment portfolio, but provides CTS EVENTIM with a valuable growth platform to strengthen ties with its customers beyond ticketing. Gaining direct access to FKP Scorpio will prospectively support the continuous development and launch of innovative products and services across the entire business portfolio of CTS EVENTIM AG & Co. KGaA and thereby take significant share in the group’s international expansion strategy.