UBS sells TicketCorner AG.
UBS is selling TicketCorner AG to Kudelski SA. TicketCorner AG is a 100 percent owned holding of UBS. The parties involved have agreed not to release the terms of the deal.
UBS is selling TicketCorner AG, a 100 percent owned holding, to Kudelski SA. The sale of this participation, which is not part of the Bank's core business, is in line with current strategy. The takeover of TicketCorner AG by Kudelski SA will provide TicketCorner AG with the entrepreneurial freedom it requires to sustain its development and to secure long-term continuity in the ticketing business of the future. Kudelski SA will continue to employ all of TicketCorner AG's staff. The deal was closed on 7 May 2001.
Thanks to a positive development over the past few years, today TicketCorner AG has become a successful player in the Swiss ticketing market. This fact has, of course, not gone unnoticed by potential investors and partners of TicketCorner AG and has created an increasingly favourable climate for a sale. Recently, various potential buyers had shown an interest in buying TicketCorner AG.
TicketCorner AG was founded in 1999 out of the merger of Fastbox Ticketservice AG and the former Swiss Bank Corporation TicketCorner. Today, the company employs around 150 staff and sells about six million tickets a year for approximately 10,000 events. TicketCorner AG has around 250 outlets in Switzerland, as well as an efficient call centre/Internet-based ticket ordering organization.
Kudelski SA/TicketCorner AG and UBS will be publishing concurrent media releases concerning the purchase/sale of TicketCorner AG.
Zurich / Basel, 8 May 2001