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SFX Entertainment Inc Announces Acquisition Of ID&T Business From ID&T NewHolding B.V.-Form 8-K


Monday, 21 Oct 2013 05:16pm EDT 

SFX Entertainment Inc reported in its Form 8-K that on October 18, the Company completed its acquisition of 100% of the ownership interests in the worldwide business (ID&T Business) of ID&T NewHolding B.V. (ID&T). ID&T-branded festivals include Tomorrowland, Mysteryland, Sensation, and Q-Dance. Under the ID&T Purchase Agreement, in exchange for 100% of the ownership interests in the ID&T Business, at closing the Company transferred the remaining consideration with respect to the ID&T Acquisition. The Company also separately acquired 100% of the ownership interests in One of Us International B.V. (One of Us International) pursuant to the ID&T International Purchase Agreement. The consideration transferred at closing consisted of a cash payment of $60.8 million, plus the payment of certain working capital adjustments of $5.9 million and the issuance to the ultimate stockholders of the ID&T Seller of an aggregate of 801,277 shares of common stock of the Company. Total consideration paid by the Company in the acquisitions of the ID&T Business and the ID&T JV was $99.2 million in cash, 4,801,277 shares of common stock of the Company and warrants to purchase 500,000 shares of common stock at $2.50 per share. 

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