Frankfurt, May 12, 2017 – The international law firm Milbank, Tweed, Hadley & McCloy LLP has advised an international banking consortium on the financing of the voluntary public tender offer to the shareholders of Drillisch AG by United Internet AG. The deal volume amounts to EUR 2.5 billion.

United Internet AG, headquartered in Montabaur, Rhineland-Palatinate and approx. 8,100 employees is a leading European internet specialist with established brands such as 1&1, GMX and WEB.DE and around 51 million customer accounts worldwide. As part of the group, 1&1 Telecommunication SE provides DSL and mobile telecommunication services to approximately 8.7 million customers.

Drillisch AG is one of the largest network-independent telecommunication providers in Germany that offers a wide range of products and services for mobile voice and data services. Headquartered in Maintal, Hessen, Drillisch AG operates more than 200 stores in Germany with leading brands smartmobil.de and yourfone.

A Milbank team headed by partner Thomas Ingenhoven advised the banking consortium in relation to the refinancing.

Advisor to the banking consortium: Milbank, Tweed Hadley & McCloy LLP

Thomas Ingenhoven (lead), Katja Lehr, Gerrit Merkel (all Finance, Frankfurt), Arndt Stengel (Corporate/M&A, Frankfurt), Thomas Kleinheisterkamp, Chiara Balbinot (both Tax, Munich)