PrimaCom Holding GmbH has acquired all the shares in Telekabel Enterprise S.à r.l., the (indirect) shareholder of DTK Deutsche Telekabel GmbH, from Chequers Capital. PrimaCom, assisted by Gleiss Lutz, was the successful bidder in the auction process preceding the transaction. Closing of the transaction is subject to the usual conditions.
DTK Deutsche Telekabel, like PrimaCom, is a national cable network operator, focusing on broadband internet, HD television and landline telephony. Both companies are independent cable providers and act as partners of the residential housing associations in these segments, so that the takeover will lead to extensive synergies.
By acquiring DTK, PrimaCom has strengthened its position in particular regarding the provision of multimedia services to commercial housing association and real estate companies as well as their respective tenants. PrimaCom has increased the number of households supplied with its own fibreglass/coaxial cable network by 30 percent to around 1.3 million.
PrimaCom Holding GmbH was advised by the following team of Gleiss Lutz lawyers, led by Dr. Jörn Wöbke (partner, Hamburg) and Dr. Ralf Morshäuser (partner, Munich, both corporate/M&A): Dr. Daniel Heck, Dr. Christian Mencke, Dr. Fabian Walla (all corporate/M&A, Hamburg), Roland Sterr, Dr. Tobias Harzenetter (both corporate/M&A, Munich), Dr. Johann Wagner (partner), Dr. Jens Wrede (both tax, Hamburg), Dr. Stefan Lingemann (partner, employment, Hamburg), Dr. Rut Steinhauser (employment, Berlin), Dr. Philip Huperz (real estate, Berlin), Dr. Alexander Molle (counsel, IP/IT, Berlin), Frank Schlobach (finance, Frankfurt).
In 2010/2011, Gleiss Lutz previously advised the Luxembourg investment company Medfort on the insolvency related acquisition of PrimaCom as well as its subsequent restructuring and refinancing.
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