Ashurst advised 5EL SA, the Swiss-listed digital commerce corporation with competences in content production, digital marketing and blockchain technology, on the acquisition of a majority interest in e-commerce services company asknet AG. The transaction was done through a combination of a capital increase and the buyout of a group of large shareholders of asknet AG. In total, 5EL SA will hold 51.37 percent in Germany-listed asknet AG.

The Ashurst team comprised partner Jan Krekeler and counsel Dr Gerrit Clasen (both lead, corporate) as well as counsel Dr Marius Fritzsche (employment) and the associates Anna-Maria Krekeler and Quynh Anh Le (both corporate, all Frankfurt). This transaction allowed our team to optimally combine both its experience in the new economy sector and its expertise in stock corporation law.

The new 5EL SA, which includes asknet AG as a consolidated subsidiary, will be a fully integrated, technology-driven e-commerce and e-procurement services, digital marketing and blockchain technology company focused on supporting academic and corporate clients with the rollout, operation and expansion of their digital business.