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A&O advises 21st Century Fox on USD9.3bn sale of Sky Italia and 57.4% stake in Sky Deutschland to BSkyB

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Diekmann Hans
Dr Hans Diekmann

Partner

Duesseldorf

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Uebelhoer Walter
Dr Walter Uebelhoer

Partner

Munich

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Ghiglione Paolo
Paolo Ghiglione

Partner

Milan

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28 July 2014

Allen & Overy has advised 21st Century Fox, Inc on its landmark sale of Sky Italia and its 57.4% stake in Sky Deutschland to BSkyB for a total consideration of USD9.3 billion in cash and assets.
​The sale includes approximately USD8.6bn in cash and BSkyB’s 21% stake in National Geographic Channels International, raising 21st Century Fox’s ownership stake to 73%. In addition, 21st Century Fox will participate in BSkyB’s announced equity offering by purchasing approximately USD900 million of additional shares in BSkyB to maintain the company’s 39.1% ownership interest.

The deal will create a pan-European digital television leader through the combination of these assets. The agreement is subject regulatory approvals and the approval of BSkyB shareholders.

The Allen & Overy-Team comprised partners Dr. Hans Diekmann (Corporate/M&A, Dusseldorf), Dr. Oliver Seiler (Capital Markets, Frankfurt), Andrew Ballheimer, Simon Toms (both Corporate/M&A, London), Dr. Walter Uebelhoer (Banking, Munich) and Paolo Ghiglione (Corporate/M&A, Milan), Senior Associates Dr. Jens Heneweer (Corporate/M&A, Dusseldorf) and Dr. Ilja Baudisch (Banking, Munich) as well as the associates Dorothée Kupiek (Corporate/M&A, Dusseldorf) and Maximilian Mayer (Banking, Munich).