Milbank Advised ProSiebenSat.1 On Agreement With General Atlantic

Milbank Advised ProSiebenSat.1 On Agreement With General Atlantic

It is a major step for the leading entertainment and infotainment player to streamline its portfolio

Premier international law firm, Milbank LLP, has Advised ProSiebenSat.1 Media SE on its agreement with General Atlantic,

The deal is to acquire General Atlantic’s minority stakes in NuCom Group (excluding online beauty retailer Flaconi) and ParshipMeet Group.

General Atlantic is a leading global growth equity firm providing capital and strategic support to companies. It combines a collaborative approach, sector-specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with businesses and management teams to scale innovative businesses worldwide.

On reorganization, General Atlantic will directly hold its 28.4 percent minority stake in Flaconi instead of indirectly through NuCom Group.

It is a major step in ProSiebenSat.1’s efforts to streamline its portfolio and gain flexibility over the development of the NuCom Group, Flaconi, and ParshipMeet Group, including potential divestment.

ProSiebenSat.1 is a leading entertainment and infotainment player in the German-speaking region. The company complements its core business with digital consumer brands in the commerce and ventures and dating and video segments.

The Milbank team was led by Partners Norbert Rieger, Christoph Rothenfußer and Martin Erhardt (Corporate/M&A).

It included Partner Thomas Kleinheisterkamp (Tax), special counsels Michael Pujol and Sebastian Reiner-Pechtl (Corporate), Nico Feuerstein (Corporate Finance & Securities) and Associates Tim Prakash, Rabea Regh, Manuel Bogenreuther (Corporate), and Jil Windau (Tax).