[ad_1]
\n<\/p>\n
DEAG Deutsche Entertainment Aktiengesellschaft (DEAG) has acquired a majority stake in Psytrance\/Goa festival, Indian Spirit.\u00a0<\/p>\n
The festival has been held in Eldena, Germany since 1999 and is one of the largest Psytrance festivals in Europe. Indian Spirit welcomes around 20,000 visitors each year, and boasts a line-up of DJs from the Psytrance scene.\u00a0<\/span><\/p>\n Guests are able to enjoy electronic music as well as yoga sessions and workshops, chill areas and a market that sells food, clothing and jewellery.\u00a0<\/span><\/p>\n DEAG-owned Myticket has already started advance sales for the 2023 edition, and is acting as the festival\u2019s exclusive ticketing partner. The acquisition sees DEAG\u2019s portfolio grow to include more than 30 multi-day and one-day festivals across Germany, the UK, Switzerland and Ireland.\u00a0<\/span><\/p>\n Rolf Eggert from festival founder and service provider Music Eggert will continue to run Indian Spirit as a shareholder, together with a team lead by managing director Sebastian Eggert.\u00a0<\/span><\/p>\n DEAG chief executive Professor Peter L H Schwenkow said: \u201cIndian Spirit is an excellent addition to our current range of music festivals. We have a strong\u00a0 international position and a well-balanced portfolio, which we are continuously expanding in a rapidly\u00a0 growing market. Indian Spirit will provide further impetus for our growth and drive our expansion.\u00a0 We are very much looking forward to working with Sebastian Eggert and his team in greater depth.\u201d<\/p>\n DEAG has also said that it is examining various options for refinancing its 2018\/2023 bond. The company has mandated German bank IKB Deutsche Industriebank AG with examining the option of issuing a new unsecured bond.\u00a0<\/span><\/p>\n