News Wiggin advises Perform Group plc on the acquisition of Mackolik

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Wiggin LLP, one of the UK’s leading media law firms, advised Perform Group plc (Perform), a global leader in digital sports media, on the majority acquisition of Mackolik Internet Hizmetleri Ticaret A.S (Mackolik), which owns and operates a number of Turkey’s leading independent sports websites, in a deal worth up to £75m.

The acquisition significantly enhances Perform’s presence in Turkey, the 6th largest economy and fastest growing digital market in Europe.

Under the terms of the deal, Perform will acquire an initial 51% stake in the business for 40.8 million Turkish Lira (£14.6 million). Perform will also acquire the remaining 49% for up to £60.4 million payable in March 2016.

The transaction is in line with Perform’s strategy for growth through acquisitions of ‘local champions’, to enhance Perform’s world-class sports, editorial, data and video content.

Perform joint chief executive, Oliver Slipper said of the deal, “We continue to execute our strategy of augmenting our strong organic growth with selective acquisitions and are delighted with the acquisition of Mackolik.

“Turkey is a hugely exciting opportunity for Perform, given the rapid growth in online advertising and internet usage and its young and growing population. Within this important geography, Mackolik is the clear market leader with a fantastic portfolio of websites and content. We are delighted to be able to welcome Mackolik to Perform Group.”

The Wiggin team was led by partner Michael Brader, a sports and media corporate specialist. Last year he co-advised, with Freshfields, Perform Group on its IPO on the main market of the London Stock Exchange. He also advised on the company’s acquisitions of, the world’s largest football website, Spox Media GmbH, mediasports digital GmbH and Watch&Trade. He has previously advised the company on its acquisition of Global Sports Media and RunningBall Holdings AG.

Commenting on the deal, Michael Brader said, “This is the latest of a number of recent acquisitions on which we have advised Perform. We look forward to continuing to work with the company as it further builds on its already strong organic growth through strategic deals such as this.”