MUNICH, Germany (CelebrityAccess) — German entertainment and ticketing company CTS Eventim announced its entered exclusive negotiations over a strategic partnership with French music retailer Fnac Darty SA over their French ticketing business.
If the negotiations are concluded successfully, Eventim will acquire a 48 percent stake in France Billet, the ticketing subsidiary of Fnac Darty.
The deal will also see CTS Eventim fold its own ticketing operations in France into the partnership.
In addition, the deal, if completed, will be structured to provide Eventim with the option to acquire a controlling interest in the joint venture four years after completion of the transaction.
The project will be presented in detail to the relevant employee representatives in the coming weeks, Eventim said. Eventim and Fnac Darty plan to complete the transaction by the end of this year.