Milbank LLP has advised NCG-NuCom Group SE on the sale of Verivox to the Italy-based Moltiply Group. The transaction signed and closed on 21 March 2025.
Verivox, founded in 1998 and headquartered in Heidelberg, is one of Germany’s leading consumer portals. The company offers independent comparison services across key sectors such as energy, telecommunications, insurance, and financial products.
Verivox was held by ProSiebenSat.1 through its subsidiary NuCom Group in which General Atlantic holds a minority stake of 28.4%. The transaction reflects an equity value of approximately EUR 232 million for Verivox. In addition, the agreement includes an earn-out component of up to EUR 60 million, contingent upon the achievement of certain earnings targets in the 2025 financial year.
In a related transaction, ProSiebenSat.1 also entered into a binding agreement with General Atlantic for the acquisition of its minority stakes in NuCom Group (excluding flaconi) and ParshipMeet Group which paved the way for the Verivox sale.
ProSiebenSat.1 is the home of popular entertainment and infotainment and a leading entertainment player in the German-speaking region. The company complements its core Entertainment business with digital consumer brands in the Commerce & Ventures and Dating & Video segments.
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. General Atlantic combines a collaborative global approach, sector-specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with businesses and management teams to scale innovative businesses around the world.
Milbank advised NCG-NuCom Group SE on all legal aspects of the transaction. The team was led by partner Martin Erhardt (Corporate/M&A), and also included partners Norbert Rieger (Corporate/M&A), Thomas Kleinheisterkamp (Tax) and Alexander Rinne (Antitrust), special counsel Michael Pujol (Corporate), as well as associates Svenja Tauchmann, Manuel Bogenreuther and Thomas Vogl (all Corporate), Marlies Zeck (Antitrust), Florian Weustenfeld (Financial Restructuring) and Adrian Müller-Achenbach (Finance).
