DTCP Advised Deutsche Telekom AG in the Transfer of Ströer Shares to its Pension Fund
DTCP acted as advisor to Deutsche Telekom AG (DTAG) in the 2015 sale of T-Online and InteractiveMedia to Ströer SE & Co. KGaA (Ströer) in exchange for an 11.3% stake. The Ströer stake was transferred today to DTAG’s pension fund. The net value of the stake has increased c. 2x.
Hamburg, Germany – 14 August 2019 – Deutsche Telekom AG (DTAG) has transferred its stake in Ströer SE & Co. KGaA (Ströer), the leading German out-of-home advertising company, to its pension plan, Deutsche Telekom Trust e.V. (DTT). This stake will be used to cover DTAG pension obligations, and it further strengthens the employee pension plan. DTCP advised DTAG on the initial acquisition of the 11.3% stake in Ströer and managed the stake thereafter. The total net value of the stake has increased c. 2x (including taxes and dividends received).
In 2015, DTCP advised DTAG on the sale of T-Online and InteractiveMedia to Ströer in exchange for 6.4 million shares. After the transaction, DTCP advised DTAG on the management of its Ströer stake as well as on strategic options. DTCP also represents DTAG on the Ströer supervisory board. Under its new owner, T-Online and InteractiveMedia were integrated into Ströer’s digital portfolio and achieved operational and financial turnarounds that resulted in a growing user base and continuously improving financials.
“We are proud to have supported DTAG on the sale of T-Online to Ströer. The increase in the value of the stake has achieved additional financial headroom for our corporate sponsor, Deutsche Telekom,” says Vicente Vento, co-founder and CEO of DTCP. “We are pleased with both the operational development of T-Online under Ströer, as well as with the value appreciation of the stake.”
DTCP is an investment management group with $1.7 billion of assets under management and advisory from Deutsche Telekom and other institutional investors, and a portfolio of over 60 companies. The group is dedicated to providing venture and growth capital, private equity investments, and advisory services to the technology, media, and telecommunications sectors. It operates and invests in Europe, the US and Israel. To learn more about DTCP, visit www.telekom-capital.com or @TelekomCapital on Twitter.
DTAG Corporate Communications: Nico Göricke | +49 228 181-94334 | firstname.lastname@example.org
DTCP Global Media: Julia Wolters | +49 160 6809906 | email@example.com