CMS advises CTS EVENTIM on the acquisition of majority stakes in Gadget Entertainment AG and wepromote Entertainment Group Switzerland AG
Zurich – CTS EVENTIM, a leading international ticketing and live entertainment provider, intensifies its involvement in Switzerland's live events sector and expands its business by acquiring 60% of the shares in Gadget Entertainment AG, Zurich (Gadget Entertainment) and 60% of the shares in wepromote entertainment group switzerland AG, St. Gallen (wepromote). On completion of the transaction, CTS EVENTIM, wepromote and Gadget Entertainment merged their operations with those of ABC Production AG, an affiliate of CTS EVENTIM, by incorporating the joint-venture company Gadget abc Entertainment Group AG. The five remaining sellers, holding 40% of the shares of Gadget abc Entertainment Group AG, will form the management of the joint-venture company.
A CMS team headed by lead partner Stefan Brunnschweiler advised CTS EVENTIM on all legal aspects of the acquisition of the majority stakes in Gadget Entertainment and wepromote.
CTS EVENTIM is a leading international provider of ticketing and live entertainment services. In 2018, around 250 million tickets were marketed using the company's systems – through stationary box offices, online or mobile channels. CTS EVENTIM AG & Co. KGaA has been a listed company since 2000 and is currently a member of the MDAX.
Gadget Entertainment is Switzerland's leading full-service music agency. Gadget organizes and books numerous concerts by artists of national and international repute in venues of all sizes. In its role as a management company, Gadget promotes the careers of many well-known Swiss performers. In addition, Gadget releases albums on its proprietary record label and runs its own publishing house. In the field of youth and music marketing, Gadget designs extensive campaigns and develops strategic concepts for the entertainment industry.
Wepromote is an umbrella brand for pooling the resources of Gadget Entertainment AG, Incognito Productions AG, wildpony AG, OpenAir St.Gallen AG, SummerDays Festival AG, Seaside Festival AG and wepromote Live AG.
CMS Switzerland
- Stefan Brunnschweiler, Partner, Global Head of the CMS Corporate/M&A Group
- Dr Kaspar Landolt, Partner, Banking and Finance
- Christian Gersbach, Partner, Employment
- Mark Cagienard, Partner, Tax
- Andrea Relly, Senior Associate, Corporate/M&A
- Samuel Gang, Associate, Corporate/M&A
- Alexandra Stocker, Associate, Corporate/M&A
- Dr Simone Brauchbar Birkhäuser, Counsel, IP/IT
- Sarah Keller, Associate, Employment
