DEAG Deutsche Entertainment Aktiengesellschaft sells 49% of Jahrhunderthalle – Purchase price of EUR 6.9 million to serve further growth
DGAP-Ad-hoc: DEAG Deutsche Entertainment Aktiengesellschaft sells 49% of Jahrhunderthalle – Purchase price of EUR 6.9 million to serve further growth
DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Disposal
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Ad hoc announcement pursuant to Section 15 WpHG (German Securities Trading Act)
DEAG sells 49% of Jahrhunderthalle – Purchase price of EUR 6.9 million to serve further growth
Berlin, 07 March 2016 – DEAG Deutsche Entertainment Aktiengesellschaft (DEAG), Berlin, (ISIN: DE000A0Z23G6) today sold its remaining 49% stake in the Jahrhunderthalle, the popular event center located in Frankfurt am
Main. The purchase price is EUR 6.9 million.
Regardless of the sale, DEAG will continue to operate the Jahrhunderthalle as a lessee until at least 2031.
DEAG continues to hold a stake of 50% in the development company which owns the plots of land around the Jahrhunderthalle arena. DEAG still anticipates that the cooperation with the joint venture partner – a professional real estate investor – will lead to a value-creating and full development of the entire area around the Jahrhunderthalle during the coming years. In the event of a positive and successful development of the plots, an incremental profit will be generated, which will exceed the carrying value many times over.
This brings DEAG one step closer to its goal of focusing its core strategy and creates the financial foundation for the company’s further growth.
DEAG Deutsche Entertainment Aktiengesellschaft
The Executive Board
Contact for further information:
Tel: +49-69-90 550 552
07.03.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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