Gleiss Lutz has advised Medfort S.à r.l., PrimaCom Finance (Lux) S.A. and PrimaCom Beteiligungsgesellschaft mbH & Co. KG on the sale of PrimaCom Holding GmbH (“PrimaCom”) to Tele Columbus AG in a limited auction. PrimaCom is valued at 711 million euros not including cash or liabilities. 

As the transaction requires no further approval from supervisory authorities or the cartel office, closing is expected to take place on 31 July 2015. 

With around 1.7 million households connected, Tele Columbus is the third biggest cable network operator in Germany. With over 1.2 million households connected, PrimaCom is number four, with aggregate turnover of 132 million euros as of the end of 2014. The company has its registered office in Leipzig and employs around 450 staff. 

A Gleiss Lutz team from Hamburg, Munich, Frankfurt and Berlin provided the PrimaCom shareholders with extensive advice on the sales process. The following lawyers were involved: Dr. Jörn Wöbke (partner, Hamburg), Dr. Ralf Morshäuser (partner, Munich, both Corporate/M&A, both lead), Dr. Jan Balssen (partner, Corporate/M&A, Munich), Dr. Christian Mencke, Dr. Daniel Heck (both Corporate/M&A, Hamburg), Dr. Martin Viciano Gofferje (counsel), Bernhard C. Barth (both Corporate/M&A, Berlin), Anton Gordon (Corporate/M&A, Munich), Dr. Eva Reudelhuber (partner, Finance, Frankfurt), Dr. Michael Marquardt (partner), Dr. Ulrike Bär (both Tax, both Frankfurt), Dr. Iris Benedikt-Buckenleib (Competition/Antitrust, Munich). 

Gleiss Lutz has been advising PrimaCom and its shareholders for many years. Teams led by the partners Dr. Ralf Morshäuser, Dr. Jörn Wöbke and Dr. Andreas Spahlinger assisted in PrimaCom’s 2010 restructuring and refinancing as well as in its acquisition of Deutsche Telekabel GmbH in 2014, among other projects.