DEAG buys out Raymond Gubbay9:45, 12th February 2015
Classics AG, a subsidiary of Deutsche Entertainment AG and Sony Music Classical, has increased its stake
in Raymond Gubbay Limited (RGL) from 75.1%
shares were acquired from RGL chairman Gubbay himself, who founded the company in
1966, and managing director Anthony Findlay. The purchase price, which is being
paid in cash, has not been disclosed. The pair have extended their contracts as
chairman and managing director until 2014 and 2018 respectively, thereby
cementing their long-term relationship with RGL.
statement from DEAG said: ‘Since the acquisition of a shareholding by DEAG in
April 2008, Raymond Gubbay Limited has proved to be a major strategic and
economic pillar within the DEAG Group, also
making a significant contribution to sales revenues and profits in the last
financial year through a varied programme of concerts, opera, ballet and dance.
2010/11 year is already shaping up to show significant growth year on year,
even given tougher market and economic conditions. RGL has also been successful
in developing new shows and formats.’
full story, see Classical Music Magazine, 3 July issue.