Weng Fine Art AG Sells Artnet Stake for €15.2 Million

Weng Fine Art AG (WFA) has announced the sale of its stake in artnet AG to an Anglo-American investor group for €15.2 million, marking the largest M&A transaction in the German art market. The deal involves a price of €11.25 per share for nearly 30% of Artnet shares held by WFA and Rüdiger K. Weng, with payments set for May 30, 2025.

The transaction, totaling approximately €65 million, highlights significant competition as the buyer outbid various other interested parties, including a prominent offer from Silicon Valley's ATH. Rüdiger K. Weng expressed satisfaction in securing a promising future for Artnet, aiming to enhance its economic success within a network of art companies.

WFA anticipates an income after taxes of around €7,270,000, further strengthening its shareholder equity and reducing annual interest expenses by €700,000 to €800,000. This move positions WFA for potentially increased dividends and future collaboration with Artnet under new leadership.