CTS Eventim is set to expand its footprint in the French market after it instigated talks with Fnac Darty over the acquisition of a 48-per-cent stake in its France Billet ticketing subsidiary.
The two firms have started exclusive negotiations on a strategic partnership for their French ticketing activities, with plans to close the deal by the end of the year.
Under the proposed agreement, Eventim would receive 48 per cent of the shares in France Billet, while contributing its existing activities in France to the partnership.
The Germany-based ticketing firm has also been given the option to acquire a majority stake four years from the date of the closing of the transaction.
Eventim chief executive 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.”
The joint venture will continue to do business as France Billet under the new ownership structure.