Mergers & Acquisitions

DEAG acquires a majority stake in Indian Spirit festival

Featured image credit: Hanny Naibaho on Unsplash

DEAG Deutsche Entertainment Aktiengesellschaft (DEAG) has acquired a majority stake in Psytrance/Goa festival, Indian Spirit. 

The festival has been held in Eldena, Germany since 1999 and is one of the largest Psytrance festivals in Europe. Indian Spirit welcomes around 20,000 visitors each year, and boasts a line-up of DJs from the Psytrance scene. 

Guests are able to enjoy electronic music as well as yoga sessions and workshops, chill areas and a market that sells food, clothing and jewellery. 

DEAG-owned Myticket has already started advance sales for the 2023 edition, and is acting as the festival’s exclusive ticketing partner. The acquisition sees DEAG’s portfolio grow to include more than 30 multi-day and one-day festivals across Germany, the UK, Switzerland and Ireland. 

Rolf Eggert from festival founder and service provider Music Eggert will continue to run Indian Spirit as a shareholder, together with a team lead by managing director Sebastian Eggert. 

DEAG chief executive Professor Peter L H Schwenkow said: “Indian Spirit is an excellent addition to our current range of music festivals. We have a strong  international position and a well-balanced portfolio, which we are continuously expanding in a rapidly  growing market. Indian Spirit will provide further impetus for our growth and drive our expansion.  We are very much looking forward to working with Sebastian Eggert and his team in greater depth.”

DEAG has also said that it is examining various options for refinancing its 2018/2023 bond. The company has mandated German bank IKB Deutsche Industriebank AG with examining the option of issuing a new unsecured bond. 

The company also said that a possible new bond could be used for the early refinancing of the 2018/2023 bond, and that sufficient liquidity is available for predicted growth.