The international law firm Milbank, Tweed, Hadley & McCloy LLP represented Axel Springer Digital Classifieds on the merger between Immowelt and Immonet. A Milbank team led by Norbert Rieger advised Axel Springer Digital Classifieds on all corporate and tax law related aspects of the transaction.
The two companies will be combined under the new Immowelt Holding AG. Axel Springer Digital Classifieds will be the majority shareholder with a 55 percent interest. The remaining 45 percent will be held by the current shareholders of Immowelt. The transaction is based on a valuation of the two companies totaling 420 million euros. By merging the two portals, Axel Springer Digital Classifieds will significantly strengthen its position on the German real estate market.
The transaction is still subject to approval by the relevant antitrust authorities.
Advisor to Axel Springer Digital Classifieds: Milbank, Tweed Hadley & McCloy LLP
Norbert Rieger, Sebastian Heim (joint lead, Corporate M&A, Munich), Matthias Schell (Tax, Munich), Christoph Rothenfußer, Ulrike Friese-Dormann (both Corporate/M&A, Munich), Andrea Eggenstein (Corporate/M&A, Frankfurt), Markus Messinger (Corporate/M&A, Frankfurt), Sebastian Reiner, Dennis Seifarth, Alexander Bücken (all Corporate/M&A, Munich), Leopold Riedl (Corporate/M&A, Frankfurt), Dennis Reisich (Tax, Munich)
