DGAP-News: SPORTTOTAL AG / Key word(s): Expansion
Cologne/Luxembourg, May 17, 2019. As planned, SPORTTOTAL AG intends to finance the domestic and international growth of its scalable digital business principally on the basis of borrowing in the future: The company's aim is to significantly accelerate its international development without diluting the interests of SPORTTOTAL AG's current shareholders. A first investment fund in the form of a "Reserved Alternative Investment Fund" ("RAIF") that is currently being launched with Groupe Fuchs is expected to provide borrowed capital of initially EUR20 million in the third quarter. sporttotal.tv's expansion is to be promoted and financed in stages and in line with requirements: To this end, further RAIF tranches are to follow on and finance the international expansion in a volume of up to EUR250 million. Amateur football clubs throughout Europe are to be equipped with special video technology which enables sports events to be transmitted live in a high quality and fully automatically using the new "sporttotal.tv" platform. "Interest in numerous international markets is huge. We will initially start in Europe, however, and we are planning to develop the first European markets within the next twelve months," says Peter Lauterbach, CEO of SPORTTOTAL AG.
About SPORTTOTAL AG:
SPORTTOTAL AG (ISIN: SPORTTOTAL AG (ISIN: DE000A1EMG56), headquartered in Cologne, is a technology and media company on a growth path in the rapidly scalable digital business with video platforms and communities (DIGITAL), in the high-margin national and international project business (VENUES), as well as in the live events business (LIVE). The company, which was founded in 1979, operates a high-traffic portal with strong growth for online sport videos and live streaming. The company equips amateur football clubs with special video technology which enables sports events to be transmitted live in a high quality and fully automatically using the new "sporttotal.tv" platform. SPORTTOTAL AG's service portfolio also comprises the technical equipping of racing circuits and sports facilities, as well as the production and marketing of sports events such as the ADAC TOTAL 24-Hour Race at the Nürburgring. In addition, SPORTTOTAL AG also produces content for prestigious companies such Porsche, Audi, Mercedes/AMG, Red Bull and VW and organises high-calibre live events such as the Porsche Experience.
For more information: www.sporttotal.com
17.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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