Heuking Kühn Lüer Wojtek advises on sale of Upsolut to St. Pauli
With a team led by Dr. Marc Scheunemann, the commercial law firm of Heuking Kühn Lüer Wojtek advised Li & Fung subsidiary Miles GmbH on the sale of shares in Upsolut Merchandising GmbH & Co. KG to FC St. Pauli Beteiligungs GmbH. At the same time, co-shareholder Lagardère sold its shares as well. Upsolut Merchandising GmbH & Co. KG owns among others the merchandising rights for FC St. Pauli fan merchandise. As of January 1, 2016, FC St. Pauli will take over the Upsolut business and announced plans to continue to employ some 80 people.
In 2004, FC St. Pauli had sold its rights to all merchandising articles to Upsolut for 30 years. Since 2009, FC St. Pauli and Upsolut had been in a legal dispute due to the concluded contract. While the dispute is still pending before the Federal Court of Justice, it has now been settled out of court with the purchase of the shares.
Counsel to Miles GmbH
Heuking Kühn Lüer Wojtek:
Dr. Marc Scheunemann (Corporate/M&A, Lead),
Dr. Tilman Spancken (Contract Law),
Beatrice Stange (Contract Law), all Düsseldorf
Julia Mischke (Corporate/M&A), Hamburg