Norton Rose Fulbright has advised the shareholders of InnoGames, one of the world’s leading developers and operators of online games, on the sale of shares to the Swedish media group Modern Times Group AB (MTG). MTG acquires 35 per cent of InnoGames founders and the financial investor Eight Roads Ventures (formerly Fidelity Ventures), based on a company value of EUR 260 million (100 per cent). The transaction is pending, subject to the approval of German and Austrian antitrust authorities.

Norton Rose Fulbright has advised the founders of InnoGames and Eight Roads Ventures with regard to tax and corporate law / M&A issues, in addition to transaction processing.

The share of 35 per cent will be acquired in two tranches by the second quarter of 2017. MTG will have the possibility to acquire a further 16 per cent of the company at the same company value until the end of September 2017, as well as to acquire options on further shares in the following years with increasing company value.

The Norton Rose Fulbright team was led by partner Holger Scheer (corporate/private equity, Frankfurt) with assistance from partner Christian Filippitsch (competition, Brussels) and partner Dr. Frank Weberndörfer (employment law, Hamburg), of counsel Dr. Christoph Ritzer (IT/ commercial, Frankfurt) and of counsel Dr. Frank Bayer (tax law, Munich). Additional support was provided by associates Christoph O. Breithaupt (corporate/private equity, Frankfurt), Julia Rosigkeit (corporate/private equity, Frankfurt), Sven Jacobs (IT/commercial, Frankfurt) and Dr. Wiebke Mattern (employment law, Hamburg).