DGAP-Ad-hoc: SPORTTOTAL AG / Key word(s): Financing/Expansion
SPORTTOTAL AG: Financing of international expansion of sporttotal.tv to be secured via external capital fund
Over the long term, a financing volume of up to EUR 250 million is envisaged in several individual tranches. The initial subfund will be active in the near future, and disbursed to sporttotal.tv GmbH already in February 2019, with the aim of financing the Berlin-based Development Lab and the further expansion in Germany with additional means in a lower, single-digit million range. In this context, a number of preliminary contracts have already been concluded. The RAIF fund duration is seven years, and the EURIBOR interest rate stands at an annual +8%. Following this period, the loans are to be repaid by sporttotal.tv from the generated cashflows. With regard to the expansion in various international target markets, additional RAIF tranches are to be incrementally set up in a targeted, requirements-specific manner.
In future, the global growth of sporttotal.tv is to be secured by this new financing instrument and by way of partnerships with various international protagonists such as Fuchs & Associés Finance S.A., Luxemburg. In this context, the international business of sporttotal.tv will be managed by a separate independent Luxemburg-based company, namely SPORTTOTAL.tv International S.a.r.L., Luxemburg. The company will be founded as a joint venture, in which SPORTTOTAL AG holds 51 percent, together with additional partners, including Fuchs & Associés Group, Luxemburg.
10-Jan-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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765045 10-Jan-2019 CET/CEST