Heuking Kühn Lüer Wojtek advised SIGNA on the transaction
FUNKE MEDIENGRUPPE and SIGNA Holding agreed on a partnership: SIGNA will take over a 49% stake in WAZ Ausland Holding GmbH from FUNKE MEDIENGRUPPE, which in turn holds shares in the “Kronen Zeitung” and “Kurier” newspapers. For the first time, SIGNA is therefore investing not only in real estate and retailing, but also in the media sector.
The collaboration will start after approval by the competent antitrust authorities. Both parties have agreed not to disclose the purchase price.
FUNKE has been operating on the Austrian media market since 1987. Via WAZ Ausland Holding GmbH, the media group holds a 50% stake in “Kronen Zeitung” and almost 50% in “Kurier.” The Dichand family holds the remaining shares in “Krone,” while Raiffeisen Group is the co-shareholder in Kurier.
SIGNA is using this partnership to take the next strategically important step on its way to becoming one of Europe’s leading multichannel providers.
SIGNA is therefore strategically involved wherever broad consumer groups expect perfect connectivity of offline and online offerings in the future and familiar brand worlds merge with digital offerings: in the home & lifestyle sector through the development of high-quality living concepts, in business through the development of state-of-the-art office buildings and working environments, in shopping through the revitalization of the inner-city department store culture to inner-city marketplaces, and in information and entertainment through the future potential of strongly positioned media brands.
Heuking Kühn Lüer Wojtek advised FUNKE MEDIENGRUPPE with a team including Andreas Urban (Picture, Corporate M&A, Lead), Michael Sörgel (Partner, Corporate M&A), Roland Reichert (Partner, Corporate M&A), Rainer Velte (Partner, Antitrust), Beatrice Stange (Salaried Partner, Antitrust) and Christian Liese (Associate, Corporate M&A).
Involved fees earner: Andreas Urban – Heuking Kühn Lüer Wojtek; Michael Sörgel – Heuking Kühn Lüer Wojtek; Roland Reichert – Heuking Kühn Lüer Wojtek; Christian Liese – Heuking Kühn Lüer Wojtek; Rainer Velte – Heuking Kühn Lüer Wojtek; Beatrice Stange – Heuking Kühn Lüer Wojtek;
Law Firms: Heuking Kühn Lüer Wojtek;
Clients: Funke Mediengruppe GmbH & Co KGaA;