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German live entertainment business CTS Eventim is set to acquire French media group Vivendi’s ticketing business See Tickets, along with its festival division consisting of 11 events.

The two companies have signed a put option agreement on the sale, with the transaction set to be completed in the coming months. It was reported in December that both CTS Eventim and AEG were among the companies to make first-round bids to acquire See Tickets and festivals from Vivendi.

The sum is undisclosed but it is understood that Vivendi was hoping to gain up to €300m (£257m) for the sale of See Tickets, along with its interests in festivals across France and the UK, including Kite and Love Supreme, which are overseen by its Vivendi Village arm.

See Tickets France is excluded from the deal. The deal includes See Tickets’ operations in the U.S., Belgium, Denmark, Germany, the Netherlands, Portugal, Spain, and Switzerland.

Other Vivendi-owned festivals include UK events Nocturne, Sundown, Boundary Brighton, The Long Road, and Junction 2, French festival Garorock, ION in Albania, and dance music brand Cogo.

CTS Eventim CEO Klaus-Peter Schulenberg said, “The acquisition supports our internationalisation strategy and will also benefit artists and their managers, as we will be able to offer even more seamless services on a global scale. We look forward to collaborating with our new colleagues on shaping the future of live entertainment.”

Vivendi Village CEO Hala Bavière said, “We at Vivendi are convinced that CTS EVENTIM will be the right company to bring our ticketing and festival activities to new heights, supporting See Tickets to remain a state-of-the-art company in services and technology, while fostering the growth of the festivals and preserving their unique identities and audience.”

Headquartered in the UK with offices in 10 countries including France and the US, See Tickets was acquired by Vivendi in 2011 for €96m (£82m). Among its many major event clients is Glastonbury Festival, which it has worked with since 1997 and provides the registration and personal ID system that prevents touting.