Hertha investor 777 – 78.8 percent – sports
The US investment company 777 Partners secured more than three quarters of the club shares when it joined Hertha BSC. The new investor “now holds 78.8 percent of the capital shares in Hertha BSC GmbH & Co. KGaA as part of the capital increase,” said the Bundesliga soccer club on request. It also said: “74.9 percent of these are shares with voting rights. In addition, 777 Partners and Hertha BSC have agreed that a blocking minority of 25.1 percent of the voting rights will remain with Hertha BSC eV.” With a blocking minority, certain resolutions can be prevented.
777 acquired almost 65 percent of the shares from Lars Windhorst and his company Tennor, which previously held them. The new financier invested 100 million euros with the Berliners as part of the entry. The magazine capital had reported that in the event of a preferred stock profit distribution, investors would be entitled to 95 percent of the amount to be distributed.
Hertha also announced how the Supervisory Board and the Advisory Board of GmbH & Co. KGaA are changing. The board of directors will now have just five members, including 777 CEO Josh Wander and co-founder Steven Pasko. Don Dransfield (Chief Executive Officer of 777 Football Group) and Markus Hunold (Advisor) now sit on the Advisory Board, which must approve certain transactions according to the Articles of Association.