Mannheim, January 30, 2008—Shearman & Sterling advised Gruner+Jahr AG & Co KG on the purchase of a 50 percent stake in the joint venture Financial Times Deutschland (FTD) from British media group Pearson Plc. The move turns Gruner+Jahr into the sole owner of FTD. The purchase is valid retroactively as of January 1, 2008. Further to the transaction, a long-term licensing contract was signed with the Financial Times Group governing the brand use rights as well as editorial cooperation with the “Financial Times”. The share purchase is subject to approval by the antitrust authorities.

The following Mannheim Shearman & Sterling attorneys advised Gruner+Jahr on the acquisition:  Heino Rück (partner, M&A/Corporate), Thomas Nägele (partner, Intellectual Property) and Christian Engelhardt (associate, Intellectual Property).

For additional information contact:
Marcus Brans | Düsseldorf | T +49.211.17888.907 |