The international law firm Milbank, Tweed, Hadley & McCloy LLP advised ProSiebenSat.1 Media SE on acquisition of a majority stake in Parship Elite Group. The company, headquartered in Hamburg, with its two strong brands Parship and ElitePartner is the leading online dating service in the German-speaking world.
ProSiebenSat.1 will acquire 50 percent of the company’s equity, plus one share, for a purchase price of EUR 100 million. As part of the transaction, the ProSiebenSat.1 Group will also replace existing Parship Elite Group loans in the amount of EUR 100 million by providing preferred capital bearing a fixed rate of interest. The transaction is based on a company value of EUR 300 million. The previous owners, Oakley Capital Private Equity II and the existing management will continue to hold minority interests totaling just under 50 percent of the company.
The acquisition is still subject to approval by the competent cartel authorities.
A Milbank team led by Martin Erhardt and Thomas Kleinheisterkamp comprehensively advised ProSiebenSat.1 on the merger on corporate, tax and competition law in relation to the transaction.
Advisor to ProSiebenSat.1 Media SE: Milbank, Tweed, Hadley & McCloy LLP
Martin Erhardt (Corporate/M&A, Munich), Thomas Kleinheisterkamp (Tax, Munich, joint lead), Alexander Rinne (Competition, Munich), Dominic Köstner, Dominik Waldvogel, Susann Brackmann, Malte Krohn (all Corporate/M&A, Munich), Katharina Kolb (Competition, Munich), Chiara Balbinot (Tax, Munich), Nikolas Koutsós (Finance, Frankfurt), Markus Messinger (Corporate/M&A, Frankfurt)
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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.
