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SKW Schwarz advises Wiedemann & Berg on sale of its W&B Television stake to KKR-backed Leonine
SKW Schwarz Rechtsanwälte advised Max Wiedemann and Quirin Berg, shareholders of Munich-based production W&B Television GmbH & Co. KG, on the sale of their 49% stake to Leonine group, which is controlled by financial investor KKR. Leonine acquired the remaining 51% of the shares from Endemol Shine. The Berlin-based business will be spun off from W&B TV and will remain with Endemol Shine. The transaction is subject to the approval of the authorities and is expected to be completed by the beginning of 2020.
Max Wiedemann, Quirin Berg, and Endemol Shine founded W&B TV as a joint venture in 2010. The company produces fictional TV films and series for TV stations and for the pay-TV and video-on-demand markets.
The sale of the TV business was preceded by the sale of Max Wiedemann‘s and Quirin Berg‘s independent film division to KKR in April 2019, which had also been advised by SKW Schwarz. Max Wiedemann and Quirin Berg will remain general managers of both companies in the future. Effective January 1, 2020, they will also join Leonine’s executive board.
Leonine group was established in 2019 when Tele-München group merged with Universum Film, i&u TV, and Wiedemann & Berg Film.
Counsel to Max Wiedemann and Quirin Berg:
SKW Schwarz Rechtsanwälte, Munich: Dr. Stephan Morsch (Lead, Corporate/M&A), Dr. Martin Diesbach, Alexandra Streichfuss (both Media & Entertainment), Dr. Angela Poschenrieder (Corporate/M&A), Heiko Wunderlich, Nicole Thomann (both Tax).