Volkswagen finds new partner for LeasePlan joint venture

The Volkswagen Group has found a new long-term, independent partner for its Dutch joint venture LeasePlan Corporation N.V., Almere Stad, in the shape of Fleet Investments B.V., an investment vehicle created by German banker Friedrich von Metzler.

An international team from CMS Hasche Sigle and CMS Derks Star Busmann advised Fleet Investments B.V. on this cross-border transaction.

The two Arab investors who hold a 50% stake in LeasePlan decided to sell their interest at the end of 2008. Fleet Investments is set to acquire these shares by the end of 2009, following approval by the antitrust and banking regulators. Fleet Investments has protected itself against business risk by way of a put option.

LeasePlan operates in the global growth market for multi brand fleet management and will retain its role as an independent service provider. The company holds a leading position in established markets and is strongly placed in growth markets.

The transaction is worth around EUR 1.3 billion.

Advisers CMS Derks Star Busmann:

• Jelle Timmenga, Financial Services and Corporate (Lead Partner)
• Cars-Jan van Gool, Notarial (Lead Partner)
• Bauke Falkena, Financial Services and Corporate (Lead Partner)
• Marcel Janssen, Banking
• Marlous de Groot, Insolvency
• Gordon Tichelaar, Notarial
• Nienke Hohmann, Financial Services

Advisers CMS Hasche Sigle:

• Dr Hendrik Hirsch, Corporate (Lead Partner)
• Philipp Melzer, Financial Instruments and Hedging (Lead Partner)
• Dr Alexandra Schluck-Amend, Insolvency
• Dr Marc Seibold, Insolvency
• Stefan Lehr, Competition
• Dr Jochem Schlotter, Corporate and International Private Law
• Alexander Panier, Financial Instruments and Hedging
• Bernhard Maierhofer, Corporate