MUNICH, December 8, 2014 – The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised Axel Springer on the increase of its share in Axel Springer Digital Classifieds GmbH from 70 percent to 85 percent. Axel Springer and global growth investor General Atlantic have reached a binding agreement on increasing Axel Springer’s share against payment of a purchase price in cash of EUR 446 million and a purchase option for Axel Springer for the remaining percent. In the event of exercising options, General Atlantik would receive Axel Springer shares.
Axel Springer Digital Classifieds GmbH is a strategic partnership, in which Axel Springer SE held 70 percent and General Atlantic held 30 percent until now.
A Milbank team headed by Dr. Norbert Rieger comprehensively advised Axel Springer on corporate and tax law related to the transaction.
Advisor Axel Springer SE: Milbank, Tweed Hadley & McCloy LLP
Norbert Rieger (lead, Corporate), Martin Erhardt, Christoph Rothenfußer (both Corporate), Rolf Füger (Tax); Associates: Sebastian Heim, Timo Schwarzwälder (both Corporate), Matthias Schell (Tax), all Munich
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm founded in 1866 in New York City. Today Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, New York, São Paulo, Singapore, Tokyo and Washington, DC and is present in all major financial and economic centers of the world. Milbank focuses its worldwide legal services in the areas of finance, transactions and litigation.
The first European office was opened in 1979 in London, followed by Frankfurt in 2001 and Munich in 2004. Due to the close cooperation of the German offices with the finance, corporate, cartel and tax lawyers practicing in other Milbank offices, in particular London and New York, Milbank Germany is in a position to provide fully integrated legal advice on the highest level in all these core areas pursuant to German, English and US law.
