Heuking advises 11 88 0 Solutions AG on its capital increase and on the acquisition of Ormigo GmbH
Corporate and capital markets law experts Dr. Mirko Sickinger, LL.M., Partner, and Lena Pfeufer, Salaried Partner, advised listed 11 88 0 Solutions AG on a capital increase from authorized capital excluding shareholders’ subscription rights. Jointly with the investment bank, they also advised on the process of admitting the new shares to the Regulated Market of Frankfurt Stock Exchange (Prime Standard).
The capital increase against contributions in kind served to acquire Cologne-based pay per lead provider Ormigo GmbH. As part of the capital increase, Euro Serve Media GmbH, a subsidiary of the Müller Medien conglomerate, which in turn holds a controlling interest in 11 88 0 Solutions AG through its holding company united vertical media GmbH, made the in-kind contribution of Ormigo GmbH to 11 88 0 Solutions AG and received one million new shares in return.
Ormigo GmbH was acquired to bolster the expansion of the pay per lead business, fostering accelerated growth and optimizing cost efficiencies for the ongoing advancement of the pay per lead operations.
11 88 0 Solutions AG is headquartered in Essen. For more than two decades, 11 88 0* and 11880.com have consistently provided reliable results in searches for individuals as well as local and national providers across all industries. As Germany’s second-largest directory assistance service, 11 88 0* offers personal support, while online business directory 11880.com and the eponymous app provide targeted information, connecting users directly to appropriate providers in the selected region.
Counsel to 11 88 0 Solutions AG
Heuking Kühn Lüer Wojtek:
Dr. Mirko Sickinger, LL.M. (Lead),
Franziska Marisa Decker, M.A. (all Corporate and Capital Markets), all Cologne