CTS Eventim’s negotiations on a strategic partnership with France’s Fnac Darty and its ticketing subsidiary France Billet have been successfully finalised.
Under the agreement, Eventim is to take over 48 per cent of the shares in market leader France Billet, while contributing its existing activities in France to the partnership.
As revealed in July when negotiations began, 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.
Klaus-Peter Schulenberg, chief executive of Eventim, said: “By partnering with Fnac Darty, Eventim significantly enhances its market position in an economically attractive and culturally diverse market. I’m delighted that we were able to successfully conclude our constructive talks in such a short time.
“Now we will work together on ensuring that France Billet can profit from our technology and our pan-European network as best as possible. We want to offer our customers in France attractive services, a powerful platform, and a wide range of offerings.”
The joint venture will continue to do business as France Billet, and all established retail brands will remain in place. These include francebillet.com, eventim.fr, fnacspectacles.com and billetreduc.com.
As a minority shareholder, Eventim will account for its shareholding in France Billet at equity. In the event that the call option is exercised four years later, this opens up the possibility of full consolidation.
The transaction was signed yesterday (Thursday) and will be formally closed shortly.
Enrique Martinez, chief executive of Fnac Darty, added: “We are very pleased to have concluded negotiations with Eventim. That shows our common will to accelerate in this rapidly changing market, to pave the way for new avenues of development for France Billet, and strengthen its offer and its innovative capacities in a competitive sector.
“France Billet will take advantage of the know-how and the strength of the Fnac brand as well as Eventim’s expertise and importance.”