GÖRG Advises Client Involved in Merger to Form Europe’s Largest Digital Music Provider
[Cologne, ] GÖRG Partnerschaft von Rechtsanwälten mbB provided publicly traded, Hamburg-based SendR SE with exhaustive legal advice in connection with its merger with Norway’s Phonofile AS, the largest digital provider in northern Europe, and also helped implement this cross-border transaction. The transaction was carried out on the basis of the decision of the shareholders of SendR SE to carry out a capital increase in kind with no preemptive rights in exchange for shares in Phonofile AS plus a cash component.
Through its finetunes GmbH subsidiary, SendR SE is a leading independent clearing house for the digital exploitation of music rights with a catalog of over 120,000 artists and more than 700,000 titles, for the most part under license from independent labels. SendR SE's list of clients includes the names of many online portals (such as iTunes) and streaming platforms (such as Spotify). SendR SE also specializes in digital services. The merger will result in the creation of one of Europe’s largest independent digital music providers.
The GÖRG team – Dr. Michael Schaumann (coordination/M&A), Dr. Alexander Kessler and Dr. Michael Zenker (both securities and capital market law) – was supported by the law firm Haavind AS of Oslo in the area of issues regarding Norwegian law. Phonofile AS was represented by the Oslo office of DLA Piper.
Advisors for SendR SE
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Alexander Kessler, Partner, Securities/Capital Market Law, Cologne
Dr. Michael Schaumann, Associated Partner, Coordination/M&A, Cologne/Hamburg
Dr. Michael Zenker, Associate, Securities/Capital Market Law, Cologne
Haavind AS, Norwegen
Arne Steen Slåttå, Associated Partner, M&A/Company Law, Oslo
Hans-Christian Donjem, Associated Partner, M&A/Company Law, Oslo
Advisor for Phonofile AS
DLA Piper, Norwegen
Petter Bjerke, Partner, M&A/Company Law, Oslo