Federal Cartel Office to conduct retrospective review of See Tickets Germany GmbH takeover / CTS EVENTIM AG cooperates, remains convinced that no obligation to notify exists

On 06.07.2010, CTS EVENTIM AG acquired from Amsterdam based See Tickets International BV all of the shares in See Tickets Germany, which also owns Ticket Online Software GmbH, Ticket Online Sales & Service Center GmbH and Ticket Online Polska Sp zoo, Poland. A review of the takeover by specialised merger control lawyers prior to conclusion of the takeover deal concluded that the transaction did not need to be notified to the authorities due to the revenue and ownership situation on the date the acquisition took effect. To check this, the Federal Cartel Office has now requested detailed information on the merger and on the participating undertakings.  
 
In view of the unchanged legal and material situation, CTS EVENTIM AG continues to assume that the transaction does not come under Section 35 ff. of the law against restraints on competition (GWB). The Management Board will be supporting the Federal Cartel Office in its investigations and will promptly provide any information that may be required. “We are confident that, after detailed examination of all the facts, the Federal Cartel Office will reach the same conclusion as we did”, commented CEO Klaus-Peter Schulenberg.