Gleiss Lutz advises Highlight Communications on successful squeeze-out of minority shareholders of Sport1 Medien
A team of Gleiss Lutz lawyers has advised Highlight Communications AG on the squeeze-out of the minority shareholders of Sport1 Medien AG (formerly Constantin Medien AG). The resolution to perform the squeeze-out was adopted at Sport1 Medien's Annual General Meeting on 14 December 2021 and took effect upon entry in the commercial register on 2 February 2022. Following this, the shares of the minority shareholders were transferred to Highlight Communications in return for cash compensation of EUR 2.30 per share, making Highlight Communications the sole shareholder of Sport1 Medien AG.
Highlight Communications became the main shareholder of Sport1 Medien AG, which was still operating under the name Constantin Medien AG at the time, after making a successful voluntary public takeover offer to the shareholders in 2018. Following a subsequent public delisting offer by Highlight Communications, trading of Sport1 Medien AG shares on the regulated market of the Frankfurt Stock Exchange was terminated in September 2019.
Highlight Communications AG is a strategic and financial holding company with an international focus. It is based in Pratteln, Switzerland, and has been listed in Germany since 1999. Its holdings operate in the film, sports & event marketing and sports segments.
Sport1 Medien AG is a global media company based in Ismaning near Munich. With its subsidiaries Sport1 GmbH, Magic Sports Media GmbH, Match IQ GmbH, PLAZAMEDIA GmbH and LEITMOTIF Creators GmbH, the SPORT1 MEDIEN Group covers the entire value chain in the sports sector.
Highlight Communications was advised by the following Gleiss Lutz team: Dr. Stephan Aubel (partner, Frankfurt), Dr. Thorsten Gayk (counsel, Hamburg, both lead), Dr. Dirk Wasmann (partner, Stuttgart), Alexander Gebhardt (counsel, Frankfurt), Dr. Walter Andert (Berlin, all Corporate and Capital Markets).
Gleiss Lutz previously assisted Highlight Communications with the takeover and delisting offers to the shareholders of what is now Sport1 Medien AG.