Highlight Communications AG (XTRA:HLG) agreed to acquire remaining approximately 4.805% stake in Sport1 Medien AG on June 29, 2021. Highlight Communications will pay €2.30 to acquire remaining shares through squeeze-out merger. Transaction is subject to approval of shareholder to be passed at a general meeting, which is expected to take place in autumn 2021.

The transaction is expected to close on December 14, 2021. Stephan Aubel, Thorsten Gayk, Dirk Wasmann and Alexander Gebhardt of Gleiss Lutz acted as legal advisors to Highlight Communications on the transaction.