Noerr advises Rocket Internet on the entry of United Internet and strategic partnership with the Philippine telecommunications group PLDT

The leading European law firm Noerr LLP advised Rocket Internet AG on the successful entry of strategic investors with a transaction volume of approx. EUR 770 million.  Rocket relied on the legal and tax advice of teams led by the Berlin Noerr partner Dr. Sascha Leske both for the investment of United Internet AG and the strategic partnership with the Philippine telecommunications group Philippine Long Distance Telephone Company (PLDT).

Through its subsidiary, United Internet Ventures AG, the listed United Internet invested a total of 435 million Euro for a 10.7% stake in Rocket. The cash component was 333 million Euro, United Internet contributes a further 102 million Euro in shares in the portfolio companies of Global Founders Capital funds. The portfolio consists of more than 50 interests held jointly by United Internet and Global Founders GmbH.

United Internet CEO Ralph Dommermuth  will, in the course of the transaction, become one of the nine members of Rocket’s supervisory board.

Previously, Rocket had concluded a partnership with the listed PLDT Group. Rocket and PLDT intend to develop particularly mobile payment systems together. PLDT invested a total of 333 million Euro for 10% of Rocket.  PLDT will also appoint a member of Rocket’s supervisory board.

Rocket Internet was founded in 2007 and is active on every continent with more than 20,000 employees in more than 100 countries. This year, Noerr already advised Rocket on agreeing a strategic partnership with the listed Asian telecommunications provider Ooredoo Q.S.C.

Advisor Rocket Internet AG: Noerr LLP

Dr. Sascha Leske (leading, Berlin), Felix Blobel (both Berlin), Dr. Till Kosche, Dr. Thorsten Reinhard (both Frankfurt, all corporate)

Associates: Dr. Matthias Kaulich, Robert Loef, Dr. Roland Kühne, Dr. Laurenz Tholen, Michael Sturm (all corporate), Florian-Felix Marquardt, Dr. Timo Wilke (both tax)