Clifford Chance

Clifford Chance advises sellers Providence Equity Partners and Airbridge in sale of majority stake in CDS Topco B.V. to Astorg Partners

Clifford Chance advised the sellers Providence Equity Partners and Airbridge in the sale of a majority stake in CDS Topco B.V., a Pan-European retail and wholesale supplier of "Direct to Home" satellite pay TV services (known under the name of ''M7''), to Astorg Partners. The transaction was signed in July and is expected to close in the third quarter of 2014.

Since the acquisition of a majority stake in M7 by Providence in 2007, M7 has increased its subscribers from approximately 750,000 to more than three million in different European countries.

The team was jointly led by Joachim Fleury and Herke van Hulst and included Floor van der Steenstraten and Liesbeth Snoeijer. Jelle Hofland and Victor ten Have advised on the financing side, Michiel Sunderman, Nolan Groenland and Stern Flik provided tax advice, Helen Gornall and Lotte van Aanholt advised on competition matters.