Gleiss Lutz advises QSC AG on sale of Plusnet to EnBW
Gleiss Lutz has advised Cologne-based QSC AG on the sale of its subsidiary Plusnet GmbH to EnBW Telekommunikation GmbH, a subsidiary of EnBW Energie Baden-Württemberg AG. The purchase price amounts to EUR 229 million. The transaction is expected to close in the third quarter of 2019 and is still subject to the customary regulatory approvals.
QSC AG is the leading ICT provider to the German SME sector. With decades of experience and expertise in its cloud, internet of things, consulting, telecommunications and colocation businesses, QSC helps customers transition to the digital age.
Plusnet GmbH is a telecommunications provider with its own nationwide network infrastructure. It provides over 25,000 business customers in Germany with solutions and products across the value chain. Plusnet has approximately 400 employees in Germany.
The sale of Plusnet marks the start of QSC AG’s accelerated expansion of its cloud and IoT business. The signing concluded a competitive M&A process.
QSC’s Head of Legal Tobias Gramm acted as in-house counsel on the transaction.
The following team of Gleiss Lutz lawyers led by corporate/M&A partners Dr. Ralf Morshäuser (Munich) and Dr. Hoimar von Ditfurth (Frankfurt) advised QSC in connection with the transaction: Christopher Köth, Dr. Stephanie Dausinger, Dr. Tobias Falkner (counsel, all Munich), Melanie Barwich, Eva Henkel (both Frankfurt), Dr. Andreas Spahlinger (partner, Stuttgart), Dr. Alexander Nagel (counsel), Dr. Reimund von der Höh (both Düsseldorf, all corporate/M&A), Dr. Helge Kortz (partner), Dr. Andreas Kohlheim (counsel), Dr. Thomas Kulzer (counsel, all finance, Frankfurt), Dr. Matthias Sonntag (partner, Düsseldorf), Dr. Matthias Werner (counsel, Munich, both IP/IT), Dr. Johann Wagner (partner, tax, Hamburg), Dr. Petra Linsmeier (partner), Dr. Tobias Klemm (both competition/antitrust, Munich), Dr. Steffen Krieger (partner, Düsseldorf), Dr. Matthias Böglmüller, Dr. Eva Heup (both Munich, all employment/labour law).