Noerr has provided the Africa Internet Group with wide-ranging advice on several successful rounds of financing with a total value of more than €300 million. On a cash-flow basis Africa’s largest internet platform is valued at €1 billion.

Apart from existing shareholders Rocket Internet and MTN (one of the leading telecommunications companies in Africa and the Middle East), investment bank Goldman Sachs, French insurance company Axa and telecommunications group Orange are injecting capital. This new capital will reinforce the Africa Internet Group’s balance sheet and will in particular contribute to the further growth of its core brand Jumia, Africa’s leading e-commerce platform. Other African internet companies are concentrated under the umbrella of the Africa Internet Group, including hellofood, hotel portal Jovago and real estate platform Lamudi.

The Africa Internet Group relied on a Noerr team led by partner Dr Sascha Leske to deal with the complex cross-border transactions. The head of Noerr’s  New York office just recently advised the shareholders of leading South-East Asian shopping site Lazada on the takeover of a majority share in Lazada by China’s internet giant Alibaba.

Advisors to Africa Internet Group: Noerr LLP

Dr Sascha Leske (lead, Corporate, New York), Dr Hans Joachim Radau (Corporate, Berlin)

Other members of the team:

Peter Stauber (Antitrust, Berlin)

Associates: Dr Armin Bartsch (Corporate, Berlin), Dr Philipp Heer, Johanna Nielsen, Dirk Sievert (all Corporate, New York), Johannes Pfeiffer (Corporate, Munich)