DGAP-News DEAG Deutsche Entertainment Aktiengesellschaft: DEAG to acquire 75% of the Danish promoter and international producer CSB Island Entertainment ApS
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Investment
Berlin, 26 January 2021 - DEAG Deutsche Entertainment Aktiengesellschaft (Prime Standard, ISIN: DE000A0Z23G6, stock exchange symbol: LOUD, "DEAG") is acquiring 75% of the shares in the Danish promoter and producer CSB Island Entertainment ApS ("CSB") via its wholly owned subsidiary DEAG Classics AG. This acquisition will significantly expand DEAG's activities and presence in Scandinavia. Through the cooperation with CSB, DEAG expects to achieve positive synergy effects in the live entertainment business as well as growth impulses for the ticketing business in Scandinavia.
CSB was founded in 1994 and is one of the leading promoters and producers in Scandinavia, with around 300 events a year. The company has an extensive partner network, a broadly diversified portfolio and its own worldwide rights to productions and shows, some of which it has developed itself. In the past, CSB has organized and hosted numerous concerts and events in Scandinavia with internationally renowned artists such as KISS, James Blunt, Sir Elton John, Kylie Minogue, Placido Domingo, Anna Netrebko, Kris Kristofferson and Sissel Kyrkjebø. In addition, shows such as "The Show - A Tribute to Abba," which has now been performed in around 50 countries worldwide, "Queen Machine Symphonic" or "Disco Tango Eurovision Show" are among the company's own productions. With this offering, CSB is an excellent addition to DEAG's portfolio. CSB company founder and CEO Carsten Svoldgaard as well as COO Kenneth Svoldgaard will remain shareholders and will continue to manage the company in the long term with their team, which will remain completely with the company.