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DEAG Sells Remaining Stake In Jahrhunderthalle Frankfurt Convention Center

FRANKFURT, Germany (CelebrityAccess) German entertainment company DEAG has sold the remaining 49% stake Frankfurt entertainment venue Jahrhunderthalle Frankfurt for 6.9 million Euros.

The purchaser, a real estate investor in a joint venture with DEAG will continue to lease Jahrhunderthalle to the German promoter, who will continue to operate the venue as a lessee until at least 2031.

DEAG previously sold a 51% stake in the convention center to an undisclosed investor last year. The company says it plans to use the receipts of the sale to foster further growth.

The 4,800-capacity Jahrhunderthalle opened in 1963 and has hosted concerts by performers such as the Grateful Dead, Frank Sinatra, the Beach Boys, Johnny Cash, the Doors, Jimi Hendrix, James Brown and Ray Charles. – Staff Writers