LIVE ENTERTAINMENT JV TARGETS TICKET SALES ACROSS LATIN AMERICA
Our Rio de Janeiro office assisted Munich-headquartered company CTS Eventim on its Latin American international joint venture arrangements with Sony Music Entertainment. CTS Eventim is one of the world’s leading ticketing and live entertainment companies and a long-standing client of CMS Germany. CMS Brazil helped set up a UK holding company, as well as advising on the joint venture agreement, an associated share buy-back, the establishment of a new Brazilian subsidiary in São Paulo, debt and equity funding from the UK and the transfer of contracts from CTS Eventim’s subsidiary in Rio de Janeiro to the joint venture company in São Paulo.
CMS previously assisted CTS Eventim in its successful bid to exclusively supply the ticketing services for the 2016 Olympic and Paralympic Games in Rio de Janeiro.
BAHRAIN PRESSES BUTTON ON ULTRAFAST BROADBAND NETWORK
CMS has been appointed legal adviser to the Bahraini Telecommunications Regulatory Authority to advise on the creation and implementation of a regulatory framework which will form the basis of the country’s new National Broadband Network (NBN). The NBN will provide ultrafast broadband powered by fibre technology throughout the country.
WIMBLEDON NETS GBP 25M FOR NO. 1 COURT REVAMP
CMS has advised The All England Lawn Tennis Ground PLC, which owns the tennis courts, grounds and buildings on which the Wimbledon Lawn Tennis Championships are staged, on its latest issue of No. 1 Court debentures, covering the 2017 – 2021 Wimbledon Championships.
The debenture issue raised approximately GBP 25m for the company, the proceeds of which will fund The No. 1 Court Project, a major plan of redevelopment works at Wimbledon which is designed to ensure that the renowned championship remains the world’s premier tennis tournament. The centrepiece of the project is the installation of a state-of-the-art retractable roof over No. 1 Court, which is expected to be in place for the Championships in 2019.
PASSION PLAY LEADS GERMAN CULTURAL AGENDA FOR 2020
CMS Germany advised the municipality of Oberammergau on the preparation and implementation of two Europe-wide procurement procedures related to the 42nd Passion Play in 2020. The Passion Play is a cultural highlight that takes place every ten years.
The first pan-European call for tenders was to find a co-partner for the Passionsspiele Oberammergau Vertriebs GmbH & Co. KG, a private company that is predominantly held by the municipality. The company sells the tickets for the Passion Play, bundles tickets with other services such as hotel accommodation and catering to create packages, and handles the sale and marketing of these packages. The Passionsspiele Oberammergau Vertriebs GmbH & Co. KG then put out a Europe-wide tender for restaurant and accommodation services, divided into four lots. For each lot, several bidders were awarded a contract and the relevant framework agreements were concluded.
RENAULT ENTERS ITALIAN AFTERMARKET WITH PITERRI VIOLINI DEAL
CMS advised Renault SAS, part of the Renault-Nissan Group, in the acquisition of the spare parts business of Pitteri Violini S.p.A., an Italian company operating in the aftermarket sector. The CMS Italy team oversaw legal and tax aspects related to the finalisation of the deal which included Renault acquiring 95.1% of the ad hoc vehicle PI-VI Ricambi S.r.l. This is the first deal that Renault concluded in Italy in the aftermarket sector.
JUMBO TAKEOVER TARGETS STOCK IN SENEGAL
CMS France’s Africa team advised GBfoods on the takeover of Jumbo’s production and distribution activity in Senegal. Jumbo is a well-established brand launched in Africa over 40 years ago. The Spanish group GBfoods operates in 28 countries in Africa and the Middle East, where it achieves 15% of its turnover. Its flagship product is the Jumbo stock cube, also known as Avecrem in Africa. In order to operate directly in the country, GBfoods set up the subsidiary Jumbo Senegal Industrie whose sole partner is Pasa Africa, one of the group’s companies.
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