The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised an international banking consortium on the financing of the voluntary public tender offer to the shareholders of Drillisch AG by United Internet AG. The deal volume amounts to EUR 2.5 billion.
United Internet AG, headquartered in Montabaur, Rhineland-Palatinate and approx. 8,100 employees is a leading European internet specialist with established brands such as 1&1, GMX and WEB.DE and around 51 million customer accounts worldwide. As part of the group, 1&1 Telecommunication SE provides DSL and mobile telecommunication services to approximately 8.7 million customers.
Drillisch AG is one of the largest network-independent telecommunication providers in Germany that offers a wide range of products and services for mobile voice and data services. Headquartered in Maintal, Hessen, Drillisch AG operates more than 200 stores in Germany with leading brands smartmobil.de and yourfone.
A Milbank team headed by partner Thomas Ingenhoven advised the banking consortium in relation to the refinancing.
Advisor to the banking consortium: Milbank, Tweed Hadley & McCloy LLP
Thomas Ingenhoven (lead), Katja Lehr, Gerrit Merkel (all Finance, Frankfurt), Arndt Stengel (Corporate/M&A, Frankfurt), Thomas Kleinheisterkamp, Chiara Balbinot (both Tax, Munich)
About Milbank
Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm that provides innovative legal services to clients around the world. Founded in New York 150 years ago, Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Seoul, Singapore, Tokyo and Washington, DC.
Milbank’s lawyers collaborate across practices and offices to help the world’s leading commercial, financial and industrial enterprises, as well as institutions, individuals and governments, achieve their strategic objectives.
