Global Entertainment AG, an immediate 100 percent subsidiary of NASDAQ-listed Global Eagle Entertainment Inc., has successfully completed, as principal shareholder, the group-specific squeeze-out of Advanced Inflight Alliance AG (AIA) in the context of an assumption of all assets and liabilities. The minority shareholders of AIA were thereby excluded in return for cash compensation.

King & Wood Mallesons SJ Berwin has advised Global Entertainment AG on this transaction.

Advice included the restructuring of the Global Eagle Group prior to the transaction, the entire merger and squeeze-out process as well as the corresponding delisting of AIA. The merger agreement was signed by both entities on December 19, 2013. The squeeze-out resolution was passed at AIA’s extraordinary shareholder meeting on February 21, 2014. Both measures were entered into the commercial register of both companies in April 2014, thereby becoming effective, without the raising of any resolution deficiencies. Simultaneously to both squeeze-out and merger, the trading of AIA’s shares, latterly listed, inter alia, on the General Standard of the Frankfurt stock exchange, was discontinued.

King & Wood Mallesons SJ Berwin’s team for Global Entertainment AG (all Frankfurt):

Corporate / M&A:
Christian Cornett (lead partner), Norman Wasse (associate), Tobias Riemenschneider (associate)

Tax:
Markus Hill (partner)