Starting news article english 16 April 2013

Clifford Chance advised founders of SilverTours on the sale of their shares to a company of ProSiebenSat.1 Group

Clifford Chance advised the founders of SilverTours GmbH on the sale of shares in SilverTours GmbH to SevenVentures GmbH, a company belonging to ProSiebenSat.1 Group.

SilverTours is based in Freiburg and Cologne and operates the website www.billiger-mietwagen.de, Germany's major price comparison platform in the car rental sector. One of the founders, Christian Mahnke, will continue to act as CEO.

At SevenVentures ProSiebenSat.1 combines companies and start-ups as well as majority stakes in strategically important companies. Through the acquisition of the majority stake in the online platform, SevenVentures expands its business activities in the digital services sector.

The transaction is subject to approval by the German Federal Cartel Office.

The Clifford Chance team was led by partner Dr. Christoph Witte and included associates Dr. Werner Brickwedde and Dr. Jan Gudlick (all Corporate/ M&A), partner Marc Holtorf and senior associate Dr. Wolfgang Schönig (both IT/IP), partner Marc Besen (Antitrust), partner Thomas Hey and senior associate Corinne Klesius (both Employment) – all Düsseldorf – as well as partner Dr. Uwe Schimmelschmidt (Tax, Frankfurt) and counsel Dr. Cord von Mandelsloh (Tax, Düsseldorf).