General Atlantic acquires 25.1% of ProSiebenSat.1 digital division NuCom Group
Munich — Private equity investor General Atlantic was successful in the bidding process for a minority stake in the digital division of ProSiebenSat.1 Group. The parties announced that General Atlantic is acquiring a 25.1 percent stake in NuCom Group. The transaction, which is still subject to approval by the relevant antitrust authorities, is based on an enterprise value of the NuCom Group of EUR 1.8 billion.
In the NuCom Group, ProSiebenSat.l Media SE bundles ten strategic investments in predominantly digital commerce platforms, including Verivox, Parship Elite Group and Jochen Schweizer mydays Group. The companies benefit from the parent company’s high TV reach and mutual synergies, and are growing steadily on this basis. With General Atlantic as a partner, ProSiebenSat.1 wants to further expand and internationalize the digital division.
General Atlantic is distinguished by decades of expertise as a strategic investor in global companies in the Internet and technology sectors. General Atlantic provides capital and strategic support to companies with high growth potential. The fund employs more than 110 investment professionals across its offices in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai and Singapore, and manages more than $20 billion in assets.
Advisor General Atlantic: Gleiss Lutz
Lead Corporate/M&A Partners Dr. Jan Balssen (Munich) and Dr. Jan Bauer (Frankfurt)
Dr. Tobias Falkner (Counsel), Dr. Verena Koppmann, Dr. Tobias Harzenetter (Counsel), Dr. Stephan Dangelmayer, Dr. Olaf Hohlefelder, Dr. Johannes Wittmann, (all Corporate/M&A, all Munich), Dr. Stefan Mayer (Partner), Dr. Ocka Stumm (both Tax, both Frankfurt), Dr. Matthias Werner (Counsel), Dr. Björn Kalbfus (Counsel), Dr. Manuel Klar, Dr. Theresa Uhlenhut (all Munich), Dr. Hannah Bug (Berlin, all IP/IT/Data Protection), Dr. Stefan Aubel (Partner, Frankfurt, Capital Markets), Dr. Jens Günther (Partner), Dr. Matthias Böglmüller, Dr. Eva Heup (all Labor Law, all Munich), Dr. Reimar Buchner (Partner), Dr. Jan-Peter Spiegel (Counsel, both Medical Law, both Berlin), Dr. Philipp Naab (Counsel), Svenja Bender (both Real Estate Law, both Frankfurt), Dr. Luidger Röckrath (Counsel), Simon Fischer (both Dispute Resolution), Dr. Petra Linsmeier (Partner) and Dr. Daniel Petzold (both Antitrust Law, all Munich).
General Atlantic is to acquire 25.1 percent of the shares in the Nucom Group , which includes online platforms such as Verivox and Parship, the company announced in Unterföhring. The Nucom Group is valued at 1.8 billion euros.
This confirmed the speculation about the deal that had been circulating for several days and had already caused slight price jumps in the share price. The investor is highly regarded in the industry for his extensive expertise. A few years ago, for example, he was a major shareholder in Axel Springer’s online classifieds business. He is also known in Germany as a co-owner of the long-distance bus operator Flixbus — in the USA, he holds shares in Airbnb and Uber, among others.