DEAG plans €10m capital increase to support further growth
DEAG Deutsche Entertainment AG is planning a €10 million capital increase as the Berlin-based live entertainment group looks to finance further organic growth and acquisitions.
DEAG said it has entered into an agreement with its anchor shareholder, Apeiron Investment Group, under which Apeiron has committed, subject to certain conditions, to subscribe for the entire cash capital increase. Existing shareholders’ subscription rights would be excluded.
After transaction costs, the proceeds are intended to support DEAG’s organic and inorganic growth strategy.
If completed, the transaction would increase the combined stake held by Apeiron and its affiliates in DEAG from around 48.4% to more than 50%.
This would trigger a change-of-control provision under the terms of DEAG’s 7.75% 2025/2029 bond. The company will therefore ask bondholders to waive the rights they would otherwise have following such a change of control.
Bondholder approval is a condition for Apeiron proceeding with the capital increase. DEAG said it intends to offer bondholders a one-off fee in line with market practice if the waiver is approved.
Berlin-based DEAG operates across Germany, the UK, Ireland, Switzerland, Denmark, Spain and Italy, with group companies at 25 locations. Its activities cover live entertainment, ticketing and related services across music, family entertainment and other event formats.
The group says it organises more than 6,000 live events annually and sells over 10 million tickets, including through its own platforms such as myticket and Gigantic.