MUNICH, June 20, 2017 – The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised ProSiebenSat.1 Media SE on the sale of all shares in Etraveli Holding AB to CVC Capital Partners, an international financial investor. Since ProSiebenSat.1’s acquisition in 2015, Etraveli has significantly increased its revenues and earnings. In addition, the company’s value, based on an enterprise value of EUR 508 million, more than doubled within this period.

The company, which is based in Uppsala, Sweden, is a global online travel agency (OTA) for flights and operates with the Gotogate, Supersaver and Seat24 brands. In addition, Etraveli also operates flight comparison portals (Flygresor.se, Charter.se) in Sweden. The joint growth strategy in recent years has focused on the internationalization of the Etraveli business. As a result, Etraveli now operates in approximately 50 countries, thereby laying the foundations for future growth.

The acquisition is still subject to approval by the relevant cartel authorities.

A Milbank team led by Martin Erhardt advised ProSiebenSat.1 on the sale of Etraveli as lead counsel comprehensively on corporate, tax and competition law.

Advisor ProSiebenSat.1 Media SE: Milbank, Tweed, Hadley & McCloy LLP

Martin Erhardt (lead, Corporate/M&A, Munich), Thomas Kleinheisterkamp, Matthias Schell (both Tax, Munich), Alexander Rinne (Competition, Munich), Michael Pujol, Dominik Waldvogel (both Corporate/M&A, Munich), Katharina Kolb (Competition, Munich), Chiara Balbinot (Tax, Munich)