Milbank, Tweed, Hadley & McCloy LLP has advised Axel Springer on the increase of its share in Axel Springer Digital Classifieds GmbH from 70 percent to 85 percent. Axel Springer and global growth investor General Atlantic have reached a binding agreement on increasing Axel Springer’s share against payment of a purchase price in cash of EUR 446 million and a purchase option for Axel Springer for the remaining percent. In the event of exercising options, General Atlantik would receive Axel Springer shares.

Axel Springer Digital Classifieds GmbH is a strategic partnership, in which Axel Springer SE held 70 percent and General Atlantic held 30 percent until now.

A Milbank team headed by Dr. Norbert Rieger comprehensively advised Axel Springer on corporate and tax law related to the transaction.

Advisor Axel Springer SE: Milbank, Tweed Hadley & McCloy LLP

Norbert Rieger (lead, Corporate), Martin Erhardt,  Christoph Rothenfußer (both Corporate), Rolf Füger (Tax); Associates: Sebastian Heim, Timo Schwarzwälder (both Corporate), Matthias Schell (Tax), all Munich