MUNICH, June 30, 2015 – Milbank advised ProSiebenSat.1 Media AG on the acquisition of a majority stake in Virtual Minds AG. ProSiebenSat.1 Digital, the digital entertainment unit of the ProSiebenSat.1 Group, will acquire a 51-percent interest in Virtual Minds AG, in which United Internet invested in 2008 and in which it will still hold a 25.1-percent interest after ProSiebenSat.1 comes on board. The founders and management team of Virtual Minds AG will also remain invested in the company.
The Virtual Minds group in Freiburg is one of the leading European specialists in the field of digital advertising and media technologies, and operates its own data processing center. Virtual Minds and its subsidiaries are renowned solution providers for performance-driven, innovative digital advertising technology products for publishers and advertisers. These products facilitate the increasingly automated selling and buying of digital advertising, particularly in the important video and moving-image segment.
The agreement is subject to clearance by the relevant antitrust authorities.
A Milbank team headed by Martin Erhardt and Michael Pujol comprehensively advised ProSiebenSat.1 on corporate and tax law in relation to the transaction.
Advisor to ProSiebenSat.1 Media AG: Milbank, Tweed Hadley & McCloy LLP
Martin Erhardt, Michael Pujol (lead, both Corporate/M&A, Munich), Thomas Kleinheisterkamp (Tax, Munich), Ulrike Friese-Dormann, Christoph Rothenfußer (both Corporate/M&A, Munich); Associates: Dennis Seifarth, Dominik Waldvogel, Alexander Bücken, Malte Krohn (all Corporate/M&A, Munich), Thomas Tiedemann (Corporate/M&A, Frankfurt)
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Milbank, Tweed, Hadley & McCloy LLP is a leading international law firm founded in 1866 in New York City. Today Milbank has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, New York, São Paulo, Seoul, Singapore, Tokyo and Washington, DC and is present in all major financial and economic centers of the world. Milbank focuses its worldwide legal services in the areas of finance, transactions and litigation.
The first European office was opened in 1979 in London, followed by Frankfurt in 2001 and Munich in 2004. Due to the close cooperation of the German offices with the finance, corporate, cartel and tax lawyers practicing in other Milbank offices, in particular London and New York, Milbank Germany is in a position to provide fully integrated legal advice on the highest level in all these core areas pursuant to German, English and US law.
