Today, Zalando SE (Berlin) entered into a business combination agreement with ABOUT YOU Holding SE (Hamburg) regarding a strategic merger and announced its decision to make a voluntary public takeover offer for all no-par value shares of ABOUT YOU Holding SE. The Otto Group, as largest shareholder of ABOUT YOU, as well as members of the Otto family, further shareholders, and ABOUT YOU's management, have committed to sell their shares in ABOUT YOU, representing in aggregate approximately 73% of ABOUT YOU's share capital, to Zalando either through acceptance of the takeover offer or through separate share purchase agreements. The closing of the transaction will be subject to customary closing conditions, including receipt of required regulatory clearances. Milbank is advising the Otto Group comprehensively in connection with the transaction. Zalando is Europe’s leading online multi-brand fashion retailer. ABOUT YOU is one of the largest online retailers for fashion and lifestyle in Europe and the leading provider of a personalized shopping experience on smartphones. The Milbank team included partners Norbert Rieger, Christoph Rothenfußer, Pascal Härdtner (all Corporate/M&A, Munich), Philipp Klöckner (Capital Markets, Frankfurt), Alexander Rinne (Regulatory, Munich) and Rolf Füger (Tax, Munich), special counsel Daniel Illhardt, Sebastian Reiner-Pechtl (both Corporate/M&A, Munich), Gerrit Merkel (Finance, Frankfurt) and Nico Feuerstein (Capital Markets, Munich) as well as associates Tim Prakash (Corporate/M&A, Munich), Martin Juhasz (Regulatory, Munich) and Arne Hammerich (Tax, Munich).