French electronic goods retailer Fnac Darty (FNAC.PA) Wednesday said it entered exclusive talks to buy the French unit of Germany’s CTS Eventim (EVDG.DE) in a bid to strengthens its ticketing business.
As part of the agreement, CTS Eventim, a European leader in the ticketing business, would acquire a 48% stake in France Billet, Fnac Darty’s ticketing unit, the two companies said in a joint statement on Wednesday.
CTS Eventim would have an option to raise its stake in France Billet to more than 50% after a four-year period.
The companies didn’t specify the amounts of the transactions.
In the first quarter, Fnac Darty already bought Billetreduc.com, a local ticketing rival.
Source: Reuters.com