Freshfields advises DVB Bank SE on sale of Land Transport Finance divisionFreshfields Bruckhaus Deringer has advised DVB Bank SE (DVB), a subsidiary of DZ BANK AG, on the sale of DVB’s Land Transport Finance division to Landesbank Hessen-Thüringen (Helaba).
The purchase agreement provides for the entire Land Transport Finance client lending portfolio (€1.4 billion as at 30 June 2018) and employees to be transferred to Helaba. Closing of the agreement is subject to the approval of antitrust authorities, as well as other conditions customary in the market. The sale is expected to be closed during the first half of 2019.
DVB's Land Transport Finance division is a specialist for international financings of rail assets (freight cars, locomotives and passenger trains), and of rail-related vehicles such as container chassis. The division offers its clients financing solutions ranging from bridging loans to complex long-term facilities.
The Freshfields core team included partners Matthias-Gabriel Kremer, Alexander Glos (Corporate/M&A), Konrad Schott (Finance), Torsten Schreier (IP/IT) and Peter Niggemann (Antitrust).
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