Hogan Lovells advising EFIC1 in €1.3 billion de-SPAC transaction with Azerion

Press releases | 21 December 2021

Amsterdam, London, 21 December 2021 – Global law firm Hogan Lovells is advising EFIC1, a special purpose acquisition company (SPAC), in its merger with Dutch tech firm Azerion. The deal is valued at €1.3 billion and is one of the largest de-SPAC transactions in Europe, the third ever in Amsterdam.

EFIC1 listed on Euronext Amsterdam in March 2021 and was formed with the intention of merging with a fast growing, profitable European champion with a tech-enabled business model and strong founder support.

Azerion is a leading digital entertainment and media platform in Europe. The business combination is expected to support Azerion in its ambitions to become a listed company and a global digital entertainment and media powerhouse.

The Hogan Lovells team was led by ECM/M&A partners Danielle du Bois-Buné (Amsterdam) and Daniel Simons (London), with support from a cross-border, cross-practice team. Key support was provided by Cees Brouwer (senior associate, London), Gaspare Chirillo (associate, London), Marieke Plaisier (associate, Amsterdam), Chantalle Schoegje (candidate civil law notary, associate, Amsterdam), Peter Stokking (candidate civil law notary, counsel, Amsterdam), Guy Ker (associate, London), Alexander Fortuin (Tax counsel, Amsterdam), Matthijs Dols (senior tax advisor, Amsterdam) and Richard Aftanas (partner, New York).

Commenting, Danielle du Bois-Buné said: “This is a fantastic outcome for our client and transaction to end the year on. It represents huge potential for the newly merged entity and the growing SPAC market, and demonstrates Hogan Lovells firm place at the forefront of SPAC and technology M&A transactions.”

The transaction is expected to complete in February 2022 and is subject to the approval of the business combination by EFIC1’s shareholders at an extraordinary general meeting and certain other customary closing conditions. For more information, please see here.

Other team members who supported on the Transaction, include:

Amsterdam: Joke Bodewits (Partner, Privacy & Cybersecurity), Samantha Brinkhuis (Partner, IPMT), Manon Cordewener (Partner, Litigation), Robert Masman (Partner, Debt Capital Markets), Jan de Snaijer (Notary, Partner, M&A), Klaas-Jan Visser (Consultant, Tax), Maria Benbrahim (Counsel, Employment), Chantal van Dam (Senior Associate, Privacy & Cybersecurity), Giannina Leander (Associate, IPMT), Janelle de Ruiter (Associate, M&A), Yvette Voermans (Associate, Debt Capital Markets), Imane Azdad (Junior Associate, Employment), Fenneke Buskermolen (Junior Associate, Privacy & Cybersecurity), Vera Brouwer (Paralegal, Tax), Femke van der Eijk (Paralegal, Privacy & Cybersecurity), Jamie Tang (Paralegal, M&A)

Birmingham: Alex Walker (Trainee Solicitor, M&A)

Brussels: Lourdes Catrain (Partner, International Trade)

Dusseldorf: Guido Brockhausen (Counsel, M&A) and Ines Mittermeier (Associate, Environment and Natural Resources)

Frankfurt: Michael Schlitt (Partner, Securities & Public Company Advisory), Mark Devlin (Counsel, Securities & Public Company Advisory), Stefanie Franz (Associate, Financial Services) and Eva-Christina Sommer (Business Lawyer, Securities & Public Company Advisory)

Hamburg: Anthonia Ghalamkarizadeh (Counsel, IPMT) and Florian Richter (Associate, IPMT)

London: Aline Doussin (Partner, International Trade), Claire Lipworth (Partner, Litigation), Liam Naidoo (Partner, Investigations, White Collar and Fraud), Oliver Wilson (Counsel, Commercial), Natasha Newey (Senior Associate, Tax), Iris Karaman (Associate, International Trade), Danny Knowles (Associate, Investigations, White Collar and Fraud), Chloe Honeyborne (Associate, M&A) and Bianca Okoye (Trainee Solicitor, M&A)

Madrid: Gonzalo Gallego (Partner, IPMT), Santiago de Ampuero (Senior Associate, IPMT)

New York: Mark Weinstein (Partner, Tax) and Roberto Cortinas (Associate, Securities & Public Company Advisory)

Washington, D.C.: Mark Brennan (Partner, Communications, Internet, and Media)