Highlight Communications, backed by Lucerne-based Studhalter Investment, has secured a majority stake in German media company Constantin Medien.
Highlight and Studhalter acquired nearly 10 per cent of the company through a so-called “acceptance period” that was offered to remaining shareholders and concluded on February 5.
The acceptance period was launched after Highlight, which already controlled just under 30 per cent of Constantin, struck a deal to snap up a further 38.44 per cent of the company through the Studhalter partnership.
Following the acceptance period, Highlight and Studhalter control more than 78 per cent of Constantin. All antitrust approvals have already been obtained.
Constantin owns German sports broadcaster Sport1 and the Sport1 Media advertising sales division. Highlight controls Team Marketing, which has a long-term agreement with Uefa, football's European governing body, under which it serves as the exclusive agency for the global marketing of commercial rights relating to the Champions League, Europa League and Super Cup club competitions.
The deal is expected to be signed off at Constantin’s next annual shareholder meeting, with the transactions set to be finalised on Monday.
“We consider the new shareholder structure, now with a clear majority control, to be positive,” Constantin chief executive Olaf Schröder said.
“On our chosen path of focusing on the sports segment, it can only be helpful if important measures for realising the strategic objectives of the Constantin Medien group can be efficiently resolved and implemented.”