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Highlight strikes deal to take over Constantin Medien

Highlight Communications, backed by Lucerne-based Studhalter Investment, has struck a deal to acquire German media company Constantin Medien.

Under the deal, Highlight, which already controls just under 30 per cent of Constantin, will snap up a further 38.44 per cent of the company, through the Studhalter partnership.

All antitrust approvals have already been obtained, meaning remaining shareholders who have not yet agreed to the takeover have been given a further acceptance period until February 5.

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.

News of the takeover offer that could potentially be worth up to €151m ($187m) emerged in November.

In September, Constantin Medien said it had reached an agreement to end all legal proceedings in the Swiss courts with Highlight Communications. The two parties had been at odds after Constantin resisted a capital increase planned by Highlight, which was intended to reduce the German company’s stake in the firm from about 43.6 per cent to about 32.7 per cent.