Gleiss Lutz advises General Atlantic on its acquisition of a minority stake in NuCom Group, ProSiebenSat.1’s digital commerce business unit
Gleiss Lutz has successfully advised private equity investors General Atlantic in the context of the auction for a minority interest in the digital commerce business unit of ProSiebenSat.1 Group. As the parties announced today, General Atlantic is acquiring 25.1% of the shares in NuCom Group. The transaction, which is still subject to approval by the relevant antitrust authorities, is based on an enterprise value of EUR 1.8 billion for the NuCom Group.
NuCom Group is the holding company within ProSiebenSat.l Media Group for ten strategic investments primarily in digital commerce platforms, including Verivox, Parship Elite Group and Jochen Schweizer mydays Group. The companies benefit from the parent company's broad TV reach and from mutual synergies, enabling them to continue along their growth trajectory. With General Atlantic as a partner, ProSiebenSat.1 intends to grow its digital commerce branch, thereby increasing its global reach.
General Atlantic has decades of expertise with strategic investments in global internet and technology sector companies, providing capital and strategic support for companies with a high growth potential. The fund employs more than 110 investment professionals across its offices in New York, Amsterdam, Peking, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai and Singapore, and manages capital investments totalling more than USD 20 billion.
Headed by the two corporate/M&A partners Dr. Jan Balssen (Munich) and Dr. Jan Bauer (Frankfurt), the Gleiss Lutz team advising General Atlantic comprised:
Dr. Tobias Falkner (counsel), Dr. Verena Koppmann, Dr. Tobias Harzenetter (counsel), Dr. Stephan Dangelmayer, Dr. Olaf Hohlefelder, Dr. Johannes Wittmann, (all corporate/M&A, all Munich), Dr. Stefan Mayer (partner), Dr. Ocka Stumm (both tax, both Frankfurt), Dr. Matthias Werner (counsel), Dr. Björn Kalbfus (counsel), Dr. Manuel Klar, Dr. Theresa Uhlenhut, Dr. Hannah Bug (all IP/IT/data protection, all Munich), Dr. Stephan Aubel (partner, Frankfurt, capital markets), Dr. Jens Günther (partner), Dr. Matthias Böglmüller, Dr. Eva Heup (all employment, all Munich), Dr. Reimar Buchner (partner), Dr. Jan-Peter Spiegel (counsel, both medical law, both Berlin), Dr. Philipp Naab (counsel), Svenja Bender (both real estate, both Frankfurt), Dr. Luidger Röckrath (counsel), Simon Fischer (both dispute resolution), Dr. Petra Linsmeier (partner) and Dr. Daniel Petzold (both competition/antitrust, all Munich).