Milbank advised DBAG Fund VI, advised by Deutsche Beteiligungs AG (“DBAG”), on the sale of the telecommunications and software company Telio to Charterhouse Capital Partners LLP, a UK-based financial investor, and an agreed reinvestment. Completion of the transaction is subject to approval by the relevant authorities.
Telio develops, installs and operates communications and media systems for correctional facilities, thus providing a material contribution to the reintegration of inmates into society. Telio installs telephones and related systems in prisons, allowing inmates to make monitored calls from communal areas or directly from their cells. Telio's product range also comprises TVs, DVD players, radios, as well as PCs with restricted internet access. Telio is also planning the transition to internet-based telephony and other services.
Milbank comprehensively advised DBAG on corporate, tax, finance and antitrust law aspects of the transaction.
Advisor to DBAG: Milbank LLP
Michael Bernhardt (lead, Corporate/M&A, Frankfurt), Matthias Schell (Tax, Munich), Alexander Rinne (Antitrust, Munich), Leopold Riedl, Sarah-Maria Resch, Viviane Opitz (all Corporate/M&A, Frankfurt), Susanne Schricker (Antitrust, Munich), Anna Bryant (Corporate/M&A, London).
