DGAP-Ad-hoc: SPORTTOTAL AG / Key word(s): Mergers & Acquisitions/Agreement
SPORTTOTAL takes over all the shares in SPORTTOTAL International SA
Cologne, 19 December 2019. Through its subsidiary sporttotal.tv GmbH, SPORTTOTAL AG is scheduled to take over the outstanding shares in SPORTTOTAL International SA, Luxembourg in the first quarter of 2020. Previously, the Groupe Fuchs (19.6%) and other minority shareholders (29.4%) had held the shares of SPORTTOTAL INTERNATIONAL SA, Luxembourg, besides sporttotal.tv gmbH (51%). Instead of financing for international growth via a fund (RAIF) planned by the Groupe Fuchs, sporttotal.tv will be using alternative financing instruments instead. The parties have reached an agreement today. As a result, the SPORTTOTAL Group will hold 100 percent of the shares in the future and will have full control of the international expansion of its multisport streaming and video-on-demand platforms. Up until now, sporttotal.tv has been broadcasting games from sports such as football, volleyball, hockey, basketball, futsal and ice hockey primarily in Germany using special video technology. In line with the original plan, additional European markets are to be developed through SPORTTOTAL International SA also after sporttotal.tv GmbH's takeover of all the shares.
While the short-term effect on the 2019 annual accounts for the Group has been estimated at around €-1 million, 100 percent of the earnings from the international expansion, along with all industrial property rights to the technology, will accrue to the shareholders of SPORTTOTAL AG in the future.
Furthermore, Jean Fuchs informed the Management Board and the Supervisory Board of SPORTTOTAL AG today of his intention to lay down his Supervisory Board mandate effective December 31. The company would like to give special thanks to Jean Fuchs for his great commitment. With the approval of SPORTTOTAL AG's Supervisory Board, the Management Board of SPORTTOTAL AG intends to apply to the competent registry court to appoint Ralf Reichert, founder and CEO of the European e-sports market leader ESL Gaming as a member of the Supervisory Board. Furthermore, Reichert is a member of the Executive Board of WESA World Esports Association, a member of the Advisory Board of Cologne Game Lab at the Technical University of Cologne, a member of the Advisory Board of Medien-Digital-Land NRW and a member of the Advisory Board of Gamescom, the world's largest gaming trade fair.
19-Dec-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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940969 19-Dec-2019 CET/CEST