EQS-News: Weng Fine Art AG: ARTNET STAKE SOLD FOR € 15.2 MILLION

Press Release from May 27, 2025

ARTNET STAKE SOLD FOR € 15.2 MILLION

WFA facilitates largest M&A transaction in the history of the German art market

Weng Fine Art AG (WFA) today sold its stake in artnet AG (Artnet) to an Anglo-American investor group at a price of EUR 11.25 per share. The sale is part of a total package of Artnet shares (29.99% stake) owned by WFA and Rüdiger K. Weng with a total volume of almost EUR 20 million. Payments are scheduled for May 30, 2025.

The total volume of the takeover of Artnet by the new investors of around EUR 65 million makes this transaction the largest M&A deal in the history of the German art market.

With his offer, the buyer prevailed in fair and exciting competition against an almost equally attractive offer by ATH from Silicon Valley in California and four other interested parties.

CEO Rüdiger K. Weng: "It fills me with great satisfaction that after an epic battle against the founding family that lasted more than five years, I have managed to give Artnet a promising future and the chance to finally succeed economically as part of a conglomerate of art internet companies. After the Artnet shareholders have not received a single dividend for 25 years, I have been able to create considerable added value for both Artnet shareholders and WFA shareholders since I acquired the first major stake in Artnet during the fall of 2019 at a price of EUR 3.40 per share. This is despite the fact that Artnet's operative results have continuously deteriorated since WFA's investment in 2019."

WFA will receive EUR 15,187,500 in cash from this sale. After a profit of around EUR 1,400,000 from the Artnet investment was already realized in 2021 through option transactions, income of around EUR 7,270,000 after taxes will be shown for the Artnet sale in the half-year financial statements as of 30.06.2025. At the same time, WFA's already high shareholder equity will increase by EUR 7,270,000. In WFA's separate financial statements, the equity ratio will increase to more than 90% after receipt of the proceeds, which could have a significant impact on dividend distributions in 2025 and 2026.

The effects of the transaction for WFA go far beyond this one-off income: of great importance is that the income will lead to a reduction in annual interest expenses of EUR 700,000 - 800,000 per financial year in coming years, which will increase the respective annual profit to a corresponding extent.

After years of no significant business activity with the current Artnet, the “New Artnet”, guided by Andrew Wolff, could become an important business partner of WFA, ArtXX AG and Weng Art Invest in the future. Specific talks on this will start following the finalizing of the takeover and delisting offer for the Artnet shares, which is due to be launched shortly.

Rüdiger K. Weng: "I am very pleased that I have been able to achieve or even exceed all the goals I set myself with this contract. I have been working on this with our partners for almost three years now. I achieved this result with a great deal of hard work as a lone fighter and against a lot of resistance on different levels. I don’t plan to end my involvement with Artnet with the sale of our stake."

Shareholders will be informed over the coming weeks and months about the impact of the transaction on the future business activities of WFA and ArtXX.

About Weng Fine Art

Weng Fine Art AG (WFA) is a leading art trading company in Europe. The company, based in Monheim am Rhein, was founded in 1994 by Rüdiger K. Weng and has been the only art trading company in Europe listed on the stock exchange since 2012. With currently three business divisions and a team of art, finance and digital experts, the company serves customers all over the world. The company focuses on trading works by internationally renowned 20th and 21st century artists such as Pablo Picasso, Henri Matisse, Edvard Munch, Emil Nolde, Ernst Ludwig Kirchner, Wassily Kandinsky, Andy Warhol, Gerhard Richter, Joseph Beuys, Ai Weiwei, Damien Hirst and Robert Longo.

Weng Fine Art currently concentrates on the business-to-business sector and supplies the major international auction houses as well as renowned dealers and galleries. With its Swiss subsidiary ArtXX AG, WFA operates an e-commerce business for limited serial artworks by the most important contemporary artists under the “Weng Contemporary” brand.

Together with partners from the financial and technology industry, Weng Art Invest is involved in the development of the digital art market based on blockchain technology in order to facilitate access to the art market for collectors and investors and to create transparency for art as an asset class. Further information can be found at: www.wengfineart.com