DEAG Deutsche Entertainment Aktiengesellschaft, DE000A0Z23G6

DEAG to acquire British event promoter Flying Music

18.08.2017 - 17:18:08

DEAG to acquire British event promoter Flying Music. DEAG Deutsche Entertainment Aktiengesellschaft, DE000A0Z23G6

Publication of insider information in accordance with Article 17 MAR

DEAG to acquire British event promoter Flying Music

Berlin, August 18, 2017 - DEAG Deutsche Entertainment AG (DEAG), Berlin, listed on the Prime Standard - ISIN DE000A0Z23G6, WKN A0Z23G - is acquiring 60% of the shares of British promoter Flying Music Group Holding Ltd through its British subsidiary Kilimanjaro Holdings Ltd. The purchase price of approximately GBP 5.0 million will possibly increase later, depending on its future business development until 2019. In fiscal year 2016/2017, the Flying Music Group, which has been profitable since its inception, generated sales of around EUR 20 million. With the future sales contribution of the Flying Music Group, the DEAG Group's sales in the UK are expected to increase to over EUR 100 million in 2018.

The Flying Music Group has successfully established itself as a tour, musical and theatrical production producer and promoter over the last 30 years. The Flying Music Group's shows include the long running West End Hit "THRILLER - Live," celebrating the music of MICHAEL JACKSON (that has now played to over 3 million people), the Olivier Award nominated "The Rat Pack Live from Las Vegas," and the stage adaption of "The Kite Runner," which is currently enjoying its second West End run with huge critical acclaim. With its event expertise, the Flying Music Group complements DEAG's international event portfolio and will allow the company to continue to grow, especially in Family Entertainment, in the Show/Musical and Theatre divisions. In addition to the positive effects for DEAG's international Live Entertainment business, the Executive Board expects up to an additional 500,000 ticket sales a year for DEAG's ticketing business in the UK (myticket.co.uk).

DEAG Deutsche Entertainment Aktiengesellschaft

Notifying people: Prof. Peter Schwenkow (CEO), Christian Diekmann (COO/CDO), Detlef Kornett (CMO), Ralph Quellmalz (CFO)

+++ End of the ad hoc announcement +++

 

18-Aug-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English

Company: DEAG Deutsche Entertainment Aktiengesellschaft Potsdamer Straße 58 10785 Berlin

Germany Phone: +49-30-810 75-0 Fax: +49-30-810 75-519 E-mail: deag@cometis.de Internet: www.deag.de ISIN: DE000A0Z23G6 WKN: A0Z23G Listed: Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange; London   End of Announcement DGAP News Service

602531  18-Aug-2017 CET/CEST

@ dgap.de

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