MUNICH, Germany (CelebrityAccess) — German ticketing and events company CTS Eventim announced it has entered into a definitive agreement to acquire a minority stake in French ticketing platform France Billet.
According to a statement from CTS, the company will control a 48% stake in the ticketing service, which is a subsidiary of Fnac Darty and a market leader in France.
As part of the deal, CTS Eventim will fold its current ticketing business in France, including its own branded eventim.fr platform, into the newly-formed joint venture which will continue to operate as France Billet.
As a provision of the agreement, CTS Eventim will be able to take a majority stake in the joint venture four years after the closing date.
“With its participation in France Billet, CTS EVENTIM is significantly expanding its market position in an economically attractive and culturally diverse market. I am glad that we were able to make our constructive discussions so successful soon. Now we will work together to ensure that France Billet can benefit as much as possible from our ticketing technology and our Europe-wide network. We want to offer our customers in France attractive services, a powerful platform and a wide range of services,” said CTS Eventim CEO Klaus-Peter Schulenberg.
