FOR IMMEDIATE RELEASE
Equity holders sell 100% equity interest in Bemobi to Oslo-based Opera; Milbank partner John Franchini led firm’s Corporate and Latin America teams in transaction
NEW YORK/RIO DE JANEIRO, August 7, 2015 – Milbank, Tweed, Hadley & McCloy LLP has advised the equity holders of Brazil-based Bemobi Mídia e Entretenimento Ltda., a leading subscription-based mobile-app-discovery service in Latin America, in the announced sale of 100% of their equity interest in Bemobi to Norwegian software company Opera Software ASA. The acquisition is expected to be completed in Q3 2015.
A Milbank team led by Corporate partner John Franchini acted as US counsel in the transaction, in tandem with Brazilian counsel Eskenazi Pernidji Advogados of Rio de Janeiro.
Bemobi offers a unique subscription service for Android apps that allows smartphone users access to unlimited use of premium mobile apps for a weekly fee. The acquisition will bring Bemobi’s one-of-a-kind service to a global audience and also establish Opera as a market leader in Latin America.
Oslo-based Opera Software is known primarily for its family of web browsers for computers, phones, and tablets and has 350 million users worldwide.
Milbank lawyers on the transaction, in addition to Mr. Franchini, included Corporate partner Roland Hlawaty, Corporate special counsel Brian Kelly, and associate Kamel Aitelaj.
About Milbank
Milbank, Tweed, Hadley & McCloy is a leading international law firm that has been providing innovative legal solutions to clients throughout the world for nearly 150 years. Milbank is headquartered in New York and has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Seoul, Singapore, Tokyo and Washington, DC.
The firm’s lawyers provide a full range of legal services to the world’s leading commercial, financial and industrial enterprises, as well as to institutions, individuals and governments. Milbank’s lawyers meet the needs of its clients by offering a highly integrated and collaborative range of services across key practice groups throughout its global network. Milbank’s integrated practice is underpinned by its attorneys’ acknowledged technical excellence, sectorial experience and a strong tradition of innovation and client service.
