Online sports retailer SIGNA Sports United will merge with Yucaipa Acquisition Corporation in a so-called de-SPAC. The merged company will be listed on the NYSE. The transaction is expected to close in the second half of 2021. Under the transaction, the new company will be valued at approximately $3.2 billion.
Seitz advised SIGNA Group on the transaction with regard to the employment law due diligence and the drafting and negotiation of the agreements with the top management involved.
Background: Seitz has been advising René Benko and the SIGNA Group for more than eight years in all employment law matters in all associated companies in Germany. This also includes the entire legal support in all matters concerning the board of directors and management.