FEST Team-Charmenko deal called off

Bulgaria’s FEST Team’s protracted acquisition of Istanbul-headquartered Charmenko has been called off, the companies have confirmed to IQ.

Sofia-based full-service promoter FEST Team has promoted concerts by the likes of Arctic Monkeys, Ed Sheeran, Guns N’ Roses, Rod Stewart and Robbie Williams, and organises Bulgaria’s biggest rock and metal festival Hills of Rock.

In February this year, it said it had finalised the purchase of Eastern European promoter, talent buyer and artist agency Charmenko, with plans to “establish a solid and well-structured network for mini-tours for developing or new artists across Eastern Europe”. But in a joint statement to IQ, the firms say the deal, which was first announced last summer, will no longer go ahead.

Charmenko is exploring other options for…

You've used your free article this month

Create a free account to read 3 articles per month, or subscribe for unlimited access.

Create a Free Account Subscribe

Already have an account? Sign in