![Milbank LLP [Russell Jacobs]](https://www.milbank.com/a/web/mKrHsHBJ3AzG6oEPvFCzVy/8Uv8bg/jacobs-russell-lon-web.jpg "Milbank LLP [Russell Jacobs]")
Milbank LLP advised the Otto Group on the partnership with Advent International for Hermes UK and Hermes Germany. As a result of the transaction, Advent acquires a 75% stake in Hermes UK and a 25% stake in Hermes Germany. Hermes Germany and Hermes UK are parcel logistics companies and in the last financial year, the companies transported more than 760 million parcels. The transaction opens up new opportunities for the Otto Group's parcel logistics companies to expand their current position as No. 2 in the two most important delivery markets in Europe.
The transaction is subject to approval by the relevant boards and competition authorities.
A Milbank team, which comprehensively advised the Otto Group on corporate, tax and antitrust law aspects of the transaction, included Norbert Rieger, Sebastian Heim (joint leads, both Corporate/M&A, Munich); Rolf Füger (Tax, Munich); Alexander Rinne (Antitrust, Munich); Ulrike Friese-Dormann (Corporate/M&A, Munich); Lisa O’Neill (Corporate/M&A, London); Russell Jacobs (Tax, London); Leopold Riedl (Corporate/M&A, Frankfurt); Malte Krohn, Pascal Härdtner, Jan Mahlke, Maximilian Pechtl, Alexandra Schäfer (all Corporate/M&A, Munich); Moritz Philipp, Arne Hammerich (both Tax, Munich); James Seddon (Tax, London); Andrew Reilly, Sarah Ullathorne (both Corporate/M&A, London) and Alexander Zyrewitz (Antitrust, Munich).
