Dutch company, Alda Events has acquired some of SFX’s major assets including SFX Europe, ID&T, and Sensation Brazil.
Finally there’s some news regarding SFX that isnt about them auctioning off their assets or one of their bankruptcy dealings. Dutch promotional company, Alda Events has reportedly acquired majority shares of some of SFX’s most prized assets.
According to Dutch magazine Quote, SFX had originally meant to acquire Alda and had agreed on a price of $23.4 million for a 50% share. However, as SFX breached contract due to nonpayments, the deal fell through. Allan Hardberg and David Lewis, the owners of Alda Events, exercised a put option to sell assets. Following, they seized back the shares of Alda that had been transferred over to SFX and identifying an opportunity also seized majority shares of the three companies – SFX Europe, ID&T, and Sensation Brazil. ID&T controls major festivals like Mysteryland, Tomorrowland, Sensation, and Amsterdam Music Festival.
Well, there you have it… Tomorrowland has a new owner and SFX is still stuck in deep shit.
Source: WeGotThisCovered
Khushrav’s passion for dance music started early on as he began creating weekly podcast episodes of the latest electronic music across genres and has mixed over 200 episodes over a span of 5years. As a dance music enthusiast, Khushrav still keeps up to date with every week’s releases, contributing to THE’s Spotify playlists.
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this post is incorrect, Alda has not bought anything. they just seized assets because they have not been paid for the shares they sold 1.5 years ago.
Hi Eric, We’re sorry if you feel this post is incorrect though we have not mentioned anything about Alda ‘buying’ SFX over and have clearly mentioned seizure of their assets in the first line itself. Thanks! :)