HEUKING advises founders and existing shareholders of eXaring AG (waipu.tv) on the sale of their shares to freenet AG

A HEUKING team led by Cologne-based partner Markus Lennartz advised the founders and existing shareholders of eXaring AG on preparing the company’s initial public offering and subsequently on the sale and transfer of all remaining shares to freenet AG.. freenet AG had already acquired a majority stake in eXaring AG in 2015. With the transaction now completed, freenet AG holds all shares in eXaring AG. The company valuation, based on the initial purchase price, amounts to approximately 300 million euros.

eXaring AG, headquartered in Munich, operates waipu.tv, one of Germany's leading IPTV platforms, through which users can access linear television and video-on-demand content via the Internet.

freenet AG, headquartered in Büdelsdorf, is a publicly traded provider of mobile communications, TV, and digital lifestyle products in Germany. The group of companies includes, among others, the freenet and waipu.tv brands.

"The founders and longtime shareholders of eXaring AG have created a true success story with waipu.tv. We are pleased that we were able to support them, first in preparing for an initial public offering and then in the complete transition of their company to freenet AG," said Markus Lennartz.

HEUKING provided comprehensive advice to the sellers on all corporate and capital markets law issues related to the transaction.

Counsel to the Founders and Existing Shareholders of eXaring AG
HEUKING:
Markus Lennartz (Lead, Corporate/M&A, Cologne)
Dr. Till Naruisch, LL.M. (University of Dundee), (Corporate/M&A, Frankfurt)
Dr. Thorsten Kuthe (Capital Markets Law, Cologne)
Meike Dresler-Lenz (Capital Markets Law, Cologne)
Jutta Schumann (IT Law, Cologne)