D.he investor Christian Angermayer, who is mainly active in fintechs and other start-up companies, wants to take DEAG, the Berlin concert promoter and ticket seller, which has been battered by the corona crisis. Angermayer, who holds 18 percent of DEAG Entertainment in Berlin, announced a takeover offer for the remaining shares on Monday via a Maltese holding company.
He teamed up with the former hedge fund manager Mike Novogratz and other DEAG shareholders who, according to the company, together have 47 percent and want to remain invested together with Angermayer. Novogratz, with whom Angermayer has already worked several times, holds just under 14 percent of DEAG.
Founder and DEAG boss Peter Schwenkow stood behind the plans: The major shareholders had agreed to accompany DEAG’s growth course “despite the continuing uncertainties about the future of the live entertainment industry due to the ongoing restrictions”.
At an expected EUR 3.07 per share, the offer to the other shareholders is well below the closing price of EUR 3.65 last Friday. However, they have no say in the decision to withdraw from the stock exchange. If they don’t sell, they run the risk of being unable to trade their stocks. The share fell on Monday by a good 15 percent to a good 3 euros.
DEAG has so far survived the corona crisis, in which major events are practically banned for months, without any problems. Despite a drop in sales of almost two thirds to 39 million euros in the first nine months, the company does not expect an operating loss in 2020. At the beginning of December, DEAG obtained a loan of 25 million euros from the state bank KfW.