GÖRG advises SendR SE on the Sale of finetunes GmbH and Phonofile AS to The Orchard/Sony Music
[Cologne] GÖRG Partnerschaft von Rechtsanwälten mbB advised Hamburg’s publicly traded SendR SE, one of Europe’s largest independent distributors of digital music, on the sale of its finetunes GmbH and Phonofile AS subsidiaries to Orchard Enterprises Entertainment GmbH for a purchase price of approximately € 20 million.
The transaction was contingent upon the approval of SendR SE’s shareholders, which was forthcoming at the annual shareholders’ meeting in July 2017, and various carve-out measures.
finetunes GmbH 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. finetunes GmbH’s roster of clients includes the names of many online portals (such as iTunes) and streaming platforms (such as Spotify). Norway’s Phonofile AS has been active in the digital distribution of music since its incorporation in the year 1999 and has in the meantime become one of northern Europe’s largest providers of digital music.
The Orchard Group is an internationally active music provider that belongs to Sony Music Entertainment. The acquisition of finetunes GmbH and Phonofile AS will make The Orchard one of the world’s leading independent providers of music, film and video content.
The GÖRG team was supported by Haavind AS, Oslo/Norway, in matters involving aspects of Norwegian law.
Advisors to SendR SE
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Michael Schaumann, Associated Partner, Team Lead/M&A, Cologne/Hamburg
Dr. Alexander Kessler, Partner, Securities/Capital Market Law, Cologne
Dr. John-Patrick Bischoff, Associated Partner, M&A, Hamburg
Dr. Christian Bürger, Associated Partner, Competition Law, Cologne
Dr. Michael Zenker, Associated Partner, Securities/Capital Market Law, Cologne
Dr. Anna Recker, Associate, Securities/Capital Market Law, Cologne
Adrian Kesting, Associate, M&A, Hamburg
Haavind AS, Norway
Hans-Christian Donjem, Associated Partner, M&A/Corporate, Oslo
Advisors to The Orchard Enterprise Entertainment GmbH
Carsten Bartholl, Partner, Team Lead/M&A/Corporate, Hamburg
Dr. Oliver Rothley, Partner, Securities/Capital Market Law, Munich
Xiaowen Paulus-Ye, Salary Partner, M&A/Corporate, Hamburg
Christian Kupfer, Associate, M&A/Corporate, Hamburg
Philipp Köppen, Associate, M&A/Corporate, Hamburg
Steenstrup Stordrange, Norway