Milbank LLP advised EQT Future, EQT’s impact-driven investment strategy, on its joint investment with Kühne Holding in Flix SE. EQT Future and Kühne Holding will jointly acquire a stake of approximately 35% in Flix SE through a combined primary and secondary investment. The closing of the transaction is subject to certain customary conditions and regulatory approvals. Flix offers long-distance bus and train travel solutions in more than 40 countries across four continents. Flix, launched in 2013, swiftly established market-leading positions for long-distance bus travel in Europe, North America and Turkey and is rapidly expanding into South America and India. The Milbank team was led by partners Steffen Oppenländer and Pascal Härdtner (both Corporate/M&A, Munich) and included partners Alexander Rinne (Regulatory, Munich), and Thomas Kleinheisterkamp (Tax, Munich), of counsel Jane L. Hanson (Litigation, New York), special counsel Daniel Illhardt (Corporate/M&A, Munich) as well as associates Maximilian Müller, Maximilian Hirschfeld (both Corporate/M&A, Munich), Jan Maas (Regulatory, Munich), and Bradley Hershon (Litigation, New York). A separate Milbank team, led by partner Sebastian Heim (Corporate/M&A, Munich), advised existing shareholder General Atlantic in connection with its investment in Flix SE and the transaction. The team included partners Matthias Schell (Tax, Munich) and Philipp Klöckner (Capital Markets, Frankfurt), special counsel Sebastian Reiner-Pechtl (Corporate/M&A, Munich) and Nils Bremer (Regulatory, Munich), as well as associates Tim Prakash and Linus Knappe (both Corporate/M&A, Munich). Milbank had previously advised General Atlantic on its first investment in the company as well as consecutive financing rounds.