The ProSiebenSat.1 group has sold its TV and print activities in the Netherlands and its TV business in Belgium. The businesses will be acquired by a consortium between Sanoma Corporation and Talpa Holding NV regarding the Dutch assets and between Sanoma Corporation, Corelio N.V. and Waterman & Waterman CVA in Belgium.The enterprise value underlying the transaction totals EUR 1.225 billion. The transaction in the Netherlands is subject to the approvals by the competent antitrust authorities. The other business activities of the ProSiebenSat.1 group in the Netherlands and Belgium including the production sector are not part of the transaction.

The international law firm Milbank, Tweed, Hadley & McCloy LLP advised ProSiebenSat.1 with regards to corporate, tax, finance and antitrust law. Samosa’s financial advisors on the transaction were ING Corporate Finance and Nordea, the legal advisor was Clifford Chance LLP. Talpa Media was advised by the Bank of America Merrill Lynch on financial matters and by Allen & Overy LLP on legal matters.

The ProSiebenSat.1 group was advised on the transaction by Milbank partners Martin Erhardt (lead), Norbert Rieger, Christoph Rothenfusser (all corporate law/M&A, Munich), Thomas Kleinheisterkamp (lead, tax law, Munich), Alexander Rinne (antitrust/regulatory law, Munich), Thomas Ingenhoven (finance law, Frankfurt) and associates Michael Pujol, Sebastian Olk, Roman Stenzel (all corporate law/M&A, Munich), Hannibal Oezdemir (corporate law/M&A, Frankfurt), Florian Holzner (tax law, Munich) and Astrid Drost (finance law, Frankfurt).