The international law firm Milbank LLP has advised ProSiebenSat.1 Media SE on entering into a long-term partnership with growth investor General Atlantic. General Atlantic’s investment will give it a 25.1 percent stake in NuCom Group, based on an enterprise value of EUR 1.8 billion. ProSiebenSat.1 Group formed NCG – NuCom Group on January 1, 2018, which will unite ten strategic investments from its Commerce business – including Verivox, Parship Elite Group, Jochen Schweizer and mydays Group.
With General Atlantic as a partner, ProSiebenSat.1 will develop NuCom Group into a leading European omni-channel platform for consumer services and lifestyle brands.
In a first joint transaction, NuCom Group is acquiring the shares held by Oakley Capital and other shareholders in Verivox and Parship Elite Group, whereby the share ownership increases to almost 100 percent and around 94 percent, respectively. In addition, NuCom Group is also acquiring the outstanding minority interests in SilverTours GmbH (billiger-mietwagen) and will own 100 percent of the company once the transaction is complete.
The transaction with General Atlantic is subject to approval by the responsible antitrust authorities.
A Milbank team led by partner Martin Erhardt advised ProSiebenSat.1 on the partnership and further transactions as lead counsel comprehensively on corporate, tax, finance and competition law.
Advisor to ProSiebenSat.1 Media SE: Milbank, Tweed, Hadley & McCloy LLP
Martin Erhardt (Corporate/M&A, Munich), Thomas Kleinheisterkamp (Tax, Munich, joint lead), Christoph Rothenfusser, Michael Pujol, Dominik Waldvogel, Dennis Seifarth, Sebastian Heim, Sebastian Reiner-Pechtl, Tian-Gu Shum, Hauke Lorenzen, Patrick Droese, Fritz Schuchmann, Wendelin Mayer, Benjamin Leuchten (all Corporate/M&A, Munich), Jörg Schrade (Tax, Munich), Alexander Rinne, Katharina Kolb (both Antitrust, Munich), Mathias Eisen, Tim Löper, Thomas Möller, Nikolas Koutsós (all Finance, Frankfurt)
