DGAP-News: CTS Eventim AG & Co. KGaA / Key word(s): Takeover PRESS RELEASE CTS EVENTIM acquires majority stake in Italian promoter Vertigo
Munich/Milan, 11 September 2017. CTS EVENTIM, one of the leading international providers of ticketing services and live entertainment, is acquiring 51% of the shares in Vertigo, the Italian promoter of concerts and events. By making this acquisition, CTS EVENTIM is continuing to broaden its international scope and now has a presence in Italy with its Live Entertainment segment. The company already owns Ticketone, one of the leading ticketing providers in that country. Klaus-Peter Schulenberg, CEO of CTS EVENTIM, commented, "Italy is already one of the most important markets for our company. So entering the Live Entertainment segment there is a logical step in our ongoing internationalisation. I am all the more delighted by the fact that, by acquiring the stake in Vertigo, we are also taking on board a highly creative, fast-growing and superbly managed promoter." Vertigo was established by two brothers, Andrea and Stefano Pieroni. Both have many years of experience in the live entertainment business, including stints as managers at Live Nation Italy. Andrea Pieroni is the historical promoter of legendary international acts such as Iron Maiden, Metallica and David Gilmour. He also invented the world famous "Gods of Metal" festival, the main Italian rock/metal event which was exclusively booked and promoted by Andrea Pieroni from its inception in 1997 to the final edition in 2016. Frithjof Pils, Managing Director of Medusa Music Group at CTS EVENTIM, said, "The Italian live entertainment market offers us some excellent perspectives thanks to its creative diversity and high levels of demand. We want to extend our position there in the years ahead. The Vertigo takeover is the perfect launching pad, not least because we will benefit from the experience and the network of the Pieroni brothers." Andrea Pieroni, CEO of Vertigo, added, "The partnership with CTS EVENTIM is a milestone for Vertigo and will help us take the next step forwards in our development. We want to enlarge our portfolio even further over the next few years and offer a creative and service-centred base to different styles of artists from Italy and abroad. The fact that CTS EVENTIM will be supporting us from now on with its resources and its unique expertise is an enormous boost for our team and our partners."
Andrea and Stefano Pieroni will continue to manage Vertigo from Milan. CTS EVENTIM will have two seats on the Vertigo Management Board and will fully consolidate the company within its Medusa Music Group. This transaction, already finalised, means that live events are now promoted by the member companies of said Group in a total of eight countries, with Italy being added to Germany, Austria, Switzerland, Denmark, Sweden, Finland and the Netherlands. In the Ticketing segment, CTS EVENTIM has activities in 25 countries. About Vertigo For further information, contact:
11.09.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | CTS Eventim AG & Co. KGaA |
Rablstr. 26 | |
81669 München | |
Germany | |
Phone: | 0421/ 3666-233 |
Fax: | 0421/ 3666-290 |
E-mail: | tatjana.wilhelm@eventim.de |
Internet: | www.eventim.de |
ISIN: | DE0005470306 |
WKN: | 547030 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP News Service |
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