DEAG to acquire remaining 50% stake in The Classical Company AG, will now hold 100% stake
- Latest acquisition in line with strategy to successively reduce minority interests and increase earnings per share
- Strengthening international business activities in the Classics & Jazz divisions with long-term, exclusive artist relationships
Berlin, 08 October 2018 – DEAG Deutsche Entertainment Aktiengesellschaft (DEAG), Berlin, ISIN: DE000A0Z23G6, Ticker: ERMK, listed in the Prime Standard, is acquiring 50% of the shares in The Classical Company AG (Switzerland) from the Swiss company Ringier AG through its fully-owned subsidiary DEAG Classics AG and will now hold 100% of the company. Ringier AG will continue to support business activities in Switzerland as a media partner until 2020. The transaction is another step towards successively reducing minority interests with the aim of increasing the earnings per share attributable to DEAG shareholders. Over the past few months, DEAG has consistently reduced minority interests in its Classics & Jazz and Ticketing divisions. This transaction also represents an excellent opportunity for DEAG to strengthen its international activities in Classics & Jazz, distinguished by long-term, exclusive relationships with artists and good visibility. Potential synergies and event transfers between the respective companies will also be even more effectively exploited than in the past.
Founded in 2010, The Classical Company AG (Switzerland) is one of the leading promoters of classical music concerts in Switzerland. Following a successful 2010/11 concert season with Lang Lang, David Garrett, the exceptional Italian tenor Vittorio Grigolo, Nigel Kennedy and Simone Kermes, many highlights followed in the subsequent years, including Anna Netrebko, Erwin Schrott, David Garrett, The Piano Guys and Rolando Villazón. More highlights are also planned for the future, such as Anna Netrebko’s performance in Lucerne in February 2019.
DEAG Deutsche Entertainment Aktiengesellschaft (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 live entertainment 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.