DEAG AG: Acquisition of 24.9% of the shares in mytic myticket AG from Starwatch Entertainment GmbH GmbH
- Second successful closure in long-term strategy to successively reduce minority interests in order to increase earnings per share
- DEAG ticketing to be further expanded
Berlin, 02 July 2018 – DEAG Deutsche Entertainment Aktiengesellschaft (DEAG), Berlin, ISIN: DE000A0Z23G6, Ticker: ERMK, listed in the Prime Standard, is to reacquire 24.9% of the shares in mytic myticket AG (“Myticket AG”) from Starwatch Entertainment GmbH, and will then hold 75.1% of MyTicket AG. Axel Springer SE will continue to hold the remaining 24.9% of the shares. The transaction, which comprises activities in the German market with myticket.de and the Austrian market with myticket.at, represents the next step in the company’s strategy of successively reducing minority interests to increase the earnings per share for DEAG shareholders. DEAG’s ticket business is to be further expanded.
Prof. Peter L.H. Schwenkow, CEO and founder of DEAG, comments: “We’d like to thank our partners ProSiebenSat1 and Starwatch for the joint establishment of MyTicket AG in its start-up phase, and I look forward to continuing our close cooperation in the other areas as before. MyTicket AG’s market shares are growing strongly and with myticket.de and myticket.at it has developed into one of the leading electronic ticket platforms. The acquisition enables us to continue pursuing our strategic goals: the acquisition of MyTicket will increase our earnings per share within the next few years. We will also continue to expand DEAG’s ticketing business. This share increase is in line with our goal of successively reducing our minority shareholdings to return to an attractive dividend policy.”
DEAG Deutsche Entertainment AG (DEAG) is a leading entertainment service company and a provider of Live Entertainment in Europe with subsidiaries in its core markets. DEAG produces and profitably organises a broad range of events and concerts. As a Live Entertainment service company with an integrated business model DEAG has extensive expertise in the organisation, marketing and holding of events, as well as in ticket sales via its own ticketing platform ‘MyTicket’ for its own and third-party content. The highly scalable business model of MyTicket strengthens DEAG on its way to increasing profitability. DEAG promotes around 4,000 concerts and events a year and currently sells more than 5 million tickets, of which a steadily increasing share is sold via its high-turnover ticketing platform MyTicket.
Founded in Berlin in 1978 and listed since 1998, DEAG’s core businesses include Rock/Pop, Classics & Jazz, Family Entertainment and Arts+Exhibitions. The Family Entertainment and Arts+Exhibitions divisions in particular are of great importance to the further development of DEAG’s own content. With its strong partner network, DEAG is excellently positioned in the market as an internationally active Live Entertainment service company.
DEAG shares (ISIN: DE000A0Z23G6 | WKN: A0Z23G | ERMK) are listed in the Prime Standard of the Frankfurt Stock Exchange, the quality segment of Deutsche Börse.