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DEAG Deutsche Entertainment Aktiengesellschaft: DEAG to strengthen its market position in the UK by acquiring UK Live Limited

DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Investment DEAG Deutsche Entertainment Aktiengesellschaft: DEAG to strengthen its market position in the UK by acquiring UK Live Limited 15.06.2021 / 10:01 The issuer is solely responsible for the content of this announcement. Corporate News

 

DEAG to strengthen its market position in the UK by acquiring UK Live Limited

Berlin, 15 June 2021 - DEAG Deutsche Entertainment Aktiengesellschaft ("DEAG") is accelerating its international expansion by acquiring 90% of the shares of the British promoter and event organiser UK Live Limited ("UK Live") in the UK via its subsidiary Kilimanjaro Holdings Ltd. Through this investment in UK Live, DEAG is successfully expanding its business activities in the UK, the company's most important secondary market. DEAG had already acquired a majority stake in the UK ticketing vendor Gigantic Holdings Ltd. in December 2019, after having already acquired the promoter The Flying Music Group in 2017 and Belladrum Festival in Scotland in 2018. Furthermore, Kilimanjaro acquired a stake in Collective Form Ltd. in early 2021. DEAG also strengthened its market position in the UK and Ireland in the fall of 2020 by founding the joint venture Singular Artists in Ireland. The acquisition of UK Live as well as continued growth in the ticketing industry in the UK, especially through the cooperation with the platforms myticket.co.uk and Gigantic.com, creates perfect synergy for DEAG.

UK Live has been established in the market as an event promoter for more than 10 years and is one of the largest independent promoters in the UK. In recent years, the company has organised concerts with well-known music stars such as Craig David, Kim Wilde, Rick Astley and the Kaiser Chiefs. UK Live is also active in the areas of artist booking, stage construction and event technology. The company operates exclusively in its home market in the UK and is an excellent complement to DEAG's portfolio with its partner network and broadly diversified portfolio, which includes the renowned music festival "Let's Rock" in 14 cities in the UK. The company founders and Managing Directors of UK Live, Nick Billinghurst and Matt Smith, will stay on board as shareholders and will continue to manage the company in the long term.