POELLATH advises DNS:NET management on incentive model in sale to 3i Infrastructure plc
The transaction is still subject to approval by the relevant authorities. The transaction is expected to be completed in the second quarter of 2021.
The sellers of the shares are financial investor DBAG, which will fully divest its 37.5 percent stake, and founder and CEO of DNS:NET Alexander Lucke, who will sell some of his shares and contribute the remaining shares to a joint holding company with 3i Infrastructure.
DNS:NET was founded in Berlin in 1988 and is a fast-growing provider of fiber-optic-based Internet connections and the second-largest provider of VDSL connections in Brandenburg, as well as a leader in connecting new-build residential properties in Berlin to its own fiber-optic network. The company offers telecommunications and Internet services for residential and business customers on the basis of both leased and its own fiber-optic network infrastructure.
Deutsche Beteiligungs AG, a listed company, initiates closed-end private equity funds and invests - predominantly alongside DBAG funds - in well-positioned, medium-sized companies. An increasing proportion of equity investments are in companies in the new focus sectors of broadband telecommunications, IT services/software and healthcare.
3i Infrastructure plc is an investment company listed on the London Stock Exchange that operates with a long-term strategy and invests in sustainable infrastructure companies.
POELLATH provided comprehensive legal advice to the management regarding an incentive model with the following Munich team:
- Dr. Benedikt Hohaus (partner, M&A, private equity, management participation)
- Silke Simmer (associate, M&A, private equity, management participation)
CEO Alexander Lucke was advised by Florian Aigner/emnay Rechtsanwälte. In addition, a Clifford Chance team advised 3i Infrastructure plc and Baker McKenzie advised DNS:NET and its shareholders.