The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised ProSiebenSat.1 Media SE on the acquisition of a majority stake in Jochen Schweizer GmbH, a company of Jochen Schweizer Group. The transaction is based on an enterprise value of 108 million euros, which corresponds to a ratio of corporate value and EBITDA of approximately 11x at the end of last year. ProSiebenSat.1 is expanding its commerce business with the acquisition.
Jochen Schweizer has built up the Munich-based company of the same name into a leading provider in the experience and event market in Germany, Austria and Switzerland and employs 650 people. ProSiebenSat.1 will combine the acquired company with its own 100% stake in mydays under the umbrella of Jochen Schweizer mydays Holding GmbH. ProSiebenSat.1 will have a 90% stake and Jochen Schweizer a 10% stake in this new company. Both companies and brands will remain under the new holding company and complement each other in terms of offering and focus.
The acquisition is still subject to approval by the relevant cartel authorities.
A Milbank team led by Martin Erhardt comprehensively advised ProSiebenSat.1 on the transaction as lead counsel on corporate, tax, finance and competition law.
Advisor to ProSiebenSat.1 Media SE: Milbank, Tweed, Hadley & McCloy LLP
Martin Erhardt (lead, Corporate/M&A, Munich), Thomas Kleinheisterkamp (Tax, Munich), Alexander Rinne (Competition, Munich), Dennis Seifarth, Sebastian Reiner-Pechtl, Michael Pujol, Dominik Waldvogel, Dominic Köstner, Wendelin Mayer (all Corporate/M&A, Munich), Katharina Kolb, Vanessa van Weelden (both Competition, Munich), Nikolas Koutsós, Thomas Möller (both Finance, Frankfurt)
