Investment fund Mozaik Investments, with Sasha Dragic – the founder of the Superbet group – among shareholders, signed an agreement to buy a minority stake in the Untold group, the largest player on the entertainment market in Eastern Europe.

The partnership aims at the international expansion of the Untold brand, founded in Cluj-Napoca in 2015, Ziarul Financiar reported.

The Cluj-Napoca festival has been consistently ranked in the last years among the top 10 festivals around the world, both in terms of audience preferences and artists' preferences. In addition, the Untold Universe group also organizes the Neversea festival in Mamaia, the Massif winter festival in Poiana Braşov, and the West Side Christmas Market (in Bucharest).

The group also includes other companies that provide services in the field of entertainment: the sponsorship agency (The Sponsorship Agency), the communication agency (Magic Maker Communication), and the production house (Magic Maker Media House).

The transaction is yet to be approved by the Romanian Competition Council.

andrei@romania-insider.com

(Photo source: Salajean/Dreamstime.com)