Axel Springer’s Proposed Acquisition Of POLITICO

Freshfields and Milbank represented German publishing powerhouse Axel Springer SE on the deal while Pillsbury Winthrop Shaw Pittma advised Perpetual Capital Partners.

Axel Springer SE (“Axel Springer”) proposed the acquisition of Allbritton, LLC (“Allbritton”). The transaction is expected to close by the end of 2021, subject to regulatory and other approvals and conditions. 

Through its proposed acquisition of Allbritton, Axel Springer will acquire news media source POLITICO, as well as tech news website Protocol and the remaining 50 percent of its current joint venture POLITICO Europe. Axel Springer and POLITICO have been joint venture partners since 2014, when they launched POLITICO Europe, which has since become a key source of information in the EU.

Over its 15-year history, POLITICO has emerged as one of the world’s most influential news sources. Axel Springer is the largest digital publishing house in Europe, with numerous multimedia news brands such as Bild, Die Welt and Fakt, and is active in more than 40 countries.

The Freshfields team was led by corporate M&A partner John Fisher (Picture) and associates Paul Gray, Anne Powderly and Devony Schmidt; regulatory advice is provided by partners Aimen Mir, Bruce McColloch, Frank Roehling, Maria Dreher, CFIUS advisor Colin Costello and Special Counsel Christine Laciak; partner Mena Kaplan, counsel Brock Dahl and associate Daniel Spencer are advising on intellectual property, data privacy, and cyber security; partner Lori Goodman and associate Jordan Salzman are advising on employment and pensions; and partner Claude Stansbury and associate David Mitchell are advising on tax.

The Pillsbury deal team was led by Northern Virginia-based Corporate/M&A partner Matt Swartz. Other Pillsbury lawyers who played a role in executing the deal include: Counsel Justin Bintrim, Associate Lewis McCorkle, Associate Rob Shoemaker, Partner Nancy Fischer, Associate Zach Rozen, Partner Keith Ranta, Partner Jessica Lutrin, Associate Dan O’Neil, Senior Law Clerk Kevin Meil, Partner Brian Blum, Partner Nora Burke, Senior Counsel Alvin Dunn, Partner Mario Dottori, Counsel Andrew Caplan, Partner Christian Buerger and Special Counsel Rebecca Carr Rizzo.

The Milbank team that advised Axel Springer on the financial law aspects of the transaction was led by partner Thomas Ingenhoven and included, inter alios, associate Gerrit Merkel (both Finance, Frankfurt).

 

Involved fees earner: Brock Dahl – Freshfields Bruckhaus Deringer LLP; Maria Dreher – Freshfields Bruckhaus Deringer LLP; John Fisher – Freshfields Bruckhaus Deringer LLP; Lori Goodman – Freshfields Bruckhaus Deringer LLP; Paul Gray – Freshfields Bruckhaus Deringer LLP; Mena Kaplan – Freshfields Bruckhaus Deringer LLP; Christine Laciak – Freshfields Bruckhaus Deringer LLP; Aimen Mir – Freshfields Bruckhaus Deringer LLP; David Mitchell – Freshfields Bruckhaus Deringer LLP; Anne Powderly – Freshfields Bruckhaus Deringer LLP; Frank Röhling – Freshfields Bruckhaus Deringer LLP; Jordan Salzman – Freshfields Bruckhaus Deringer LLP; Devony Schmidt – Freshfields Bruckhaus Deringer LLP; Daniel Spencer – Freshfields Bruckhaus Deringer LLP; Claude Stansbury – Freshfields Bruckhaus Deringer LLP; Thomas Ingenhoven – Milbank LLP; Gerrit Merkel – Milbank LLP; Justin Bintrim – Pillsbury Winthrop Shaw Pittman LLP; Brian Blum – Pillsbury Winthrop Shaw Pittman LLP; Christian Buerger – Pillsbury Winthrop Shaw Pittman LLP; Nora Burke – Pillsbury Winthrop Shaw Pittman LLP; Andrew Caplan – Pillsbury Winthrop Shaw Pittman LLP; Mario Dottori – Pillsbury Winthrop Shaw Pittman LLP; Alvin Dunn – Pillsbury Winthrop Shaw Pittman LLP; Nancy Fischer – Pillsbury Winthrop Shaw Pittman LLP; Jessica Lutrin – Pillsbury Winthrop Shaw Pittman LLP; Lewis McCorkle – Pillsbury Winthrop Shaw Pittman LLP; Dan O’Neil – Pillsbury Winthrop Shaw Pittman LLP; Keith Ranta – Pillsbury Winthrop Shaw Pittman LLP; Rebecca Rizzo – Pillsbury Winthrop Shaw Pittman LLP; Zachary Rozen – Pillsbury Winthrop Shaw Pittman LLP; Robert Shoemaker – Pillsbury Winthrop Shaw Pittman LLP; Matthew Swartz – Pillsbury Winthrop Shaw Pittman LLP;

Law Firms: Freshfields Bruckhaus Deringer LLP; Milbank LLP; Pillsbury Winthrop Shaw Pittman LLP;

Clients: Axel Springer AG; Perpetual Capital Partners;

Author: Martina Bellini