Germany’s DEAG raises €6m for acquisitions

Berlin-based live entertainment group DEAG has raised more than €6 million to fund future acquisitions in “key markets”, it announced today (5 May).

The company recently delisted from the stock market after 23 years as a listed company, with CEO Peter Schwenkow telling IQ that DEAG (Deutsche Entertainment AG) could raise more funds as a private company than on the financial markets.

To raise the new funding – €6.06m in total – DEAG will increase its share capital by 1,962,597 new shares, or approximately 10%, with the support of its largest individual shareholder, Apeiron Investment Group, which subscribed to the capital increase through its ‘Live Opportunities Fund’.

The proceeds, according to a statement from the company, will “be used to take advantage of attractive market opportunities to acquire companies that are identified at short notice. DEAG is thus continuing to pursue its strategy of growth in key markets and extending its value chain.”

Promoter/ticket agency DEAG owns businesses in Germany, Switzerland, the UK and the Republic of Ireland.

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