Allen & Overy LLP is advising its longstanding client 21st Century Fox, Inc. (formerly News Corporation) in connection with the financial support of the acquisition of different corporate investments by Sky Germany.

Sky Germany Fernsehen GmbH & Co. KG, a wholly owned subsidiary of Sky Germany AG, agreed with Constantin Sport Holding GmbH to acquire its production company PLAZA MEDIA GmbH TV and movie production, and the acquisition of a minority stake in Sport1 GmbH and Constantin Sport Marketing GmbH. The total purchase price is approximately €57.5 million excluding cash and debt.

Sky Germany, with members of the existing banking consortium, is in talks to finance the purchase price of a new credit agreement, which is guaranteed by 21st Century Fox. If the proposed bank financing does not come to a conclusion, 21st Century Fox has committed to provide an unsecured shareholder loans.

The transaction, which is expected to be completed in the first half of 2014, is subject to certain conditions as well as antitrust and media law permits.

The Allen & Overy team consisted of partners Dr. Oliver Seiler (International Capital Markets, Frankfurt) and Dr. Hans Diekmann (Corporate, Dusseldorf) and associate David Rath (International Capital Markets, Frankfurt). For banking law conferred partner Dr. Walter Uebelhoer and senior associate Dr. Ilya Baudisch (both Banking and Finance Law, Munich).