Mergers & Acquisitions

AEG and CTS Eventim reportedly interested in acquiring See Tickets

Featured Image: ktphotography from Pixabay

AEG and CTS Eventim have reportedly expressed interest in purchasing See Tickets from French media group Vivendi. 

According to the Financial Times, which cited sources close to the matter, sports and entertainment company AEG and German ticketing group CTS Eventim have joined the race to buy See Tickets, with Vivendi aiming for a €300m (£257m/£323m) deal.

The report stated that a first round of indicative bids had been submitted in recent weeks, with the sources adding that other businesses were expected to join the process shortly.

Despite AEG – through AXS – and Eventim already having primary ticketing businesses in place, with See Tickets expected to sell 43 million tickets across 10 different countries this year, the firms will hope to at least compete with Live Nation-owned Ticketmaster if one is successful in making the acquisition.

It was reported in September that Vivendi had plans to sell See Tickets, which the group acquired more than a decade ago for a reported €96m. The group added that it was looking to dispose parts of its Vivendi Village subsidiary, which covers See Tickets and the Paris-headquartered media group’s festival operations.

Last month, CTS Eventim projected that it would achieve a revenue of €2bn in 2023 across both its entertainment and ticketing divisions. The ticketing segment alone posted €459m for the first nine months of 2023, compared to 2022’s €338.9m.

The Financial Times added that AEG and CTS Eventim declined to comment on the matter.