Hengeler Mueller advises United Internet on integration of 1&1 Telecommunication SE into Drillisch and associated tender offer
12. May 2017
Today United Internet AG (“United Internet”) and Drillisch AG (“Drillisch”) have entered into a Business Combination Agreement governing the step-by-step acquisition of 1&1 Telecommunication SE (“1&1 Telecommunication”) by Drillisch under the umbrella of United Internet with the aim to merge United Internet’s mobile and fixed-network business, which is bundled in 1&1 Telecommunication SE, with Drillisch’s mobile communications business.
Alongside the proposed combination via two capital increases, United Internet will submit a voluntary public tender offer to all Drillisch shareholders that relates to the acquisition of all outstanding Drillisch shares. Following the successful implementation of both capital increases, United Internet will be Drillisch’s new majority shareholder with a share of around 72.7%. Drillisch is to remain an independent listed company.
Hengeler Mueller is advising United Internet on the transaction. The Hengeler Mueller team includes partners Daniela Favoccia, Lucina Berger (both Corporate/M&A), Karsten Schmidt-Hern (M&A) and Wolfgang Groß (Corporate) as well as associates Clemens Höhn, Radmila Petrovic, Annette Petow, Johanna Peters, Christin Posdziech, Nicolas Nohlen, Christian Schmalenbach, Sven Stumm, Pierre G. Zickert (all Frankfurt) and Mauritz Rogier (Düsseldorf) (all Corporate/M&A).