Ticketing and live entertainment giant CTS Eventim is acquiring a 48% stake in France Billet, the ticketing subsidiary of France-based retailer Fnac Darty.
CTS Eventim also has the option to acquire a majority stake four years from the transactions’s closing date.
The transaction is planned close by the end of 2019.
The joint venture will continue to do business as France Billet under the new ownership structure.
The plan is to keep the established retail brands – in addition to francebillet.com, these include eventim.fr, fnacspectacles.com and billetreduc.com, which was acquired by France Billet in Q1 2019.
“By partnering with Fnac Darty, we seek to create a company that offers its customers attractive services, a powerful platform, and a wide range of offerings.”
Klaus-Peter Schulenberg, CTS Eventim (pictured)
CTS Eventim CEO Klaus-Peter Schulenberg said: “By partnering with Fnac Darty, we seek to create a company that offers its customers attractive services, a powerful platform, and a wide range of offerings.
“At the same time, we intend to use this investment to significantly strengthen our market position in an economically attractive and culturally diverse market. I look forward to our further discussions with Fnac Darty.”
“We are very pleased with this project with CTS Eventim, which is part of our process of implementing our Confiance+ strategic plan and rolling out our platform to partners who are experts in their field.”
Enrique Martinez, Fnac Darty
Enrique Martinez, CEO of Fnac Darty, added: “We are very pleased with this project with CTS Eventim, which is part of our process of implementing our Confiance+ strategic plan and rolling out our platform to partners who are experts in their field.
“In a rapidly changing market, this value-creating partnership would pave the way for new avenues of development for France Billet, now backed by two major players, and would strengthen its offer and its innovative capacities in a competitive sector
“France Billet would take advantage of the know-how and strength of the Fnac brand as well as CTS Eventim’s expertise and importance.”
In May, CTS Eventim posted Q1 revenues of €282.7m, up 3% year-on-year.
In March, the company created a London headquartered pan-European promoter network called Eventim Live.Music Business Worldwide
