30.08.2024 - The Deutsche Leasing Group and Berliner Sparkasse are expanding the shareholder structure of their S-Kreditpartner (SKP) joint venture and thereby reorganising the consumer credit business within the Sparkassen savings banks association. The company formed for this purpose, Sparkassen-Verbundgesellschaft (SKP-VG), will be admitted as the third shareholder by the end of 2024. After the transaction has completed, Deutsche Leasing and Berliner Sparkasse will each hold 40% of SKP, with SKP-VG holding the remaining 20%. The aim of the reorganisation is to bolster SKP’s business model as a specialist for car loans and consumer credit.
At the start of August 2024, the Deutsche Leasing Group took over wholesale financing for recreational vehicles from SKP, an operation which is worth a total of around EUR 650 million. This will enable SKP to continue focusing on its core business with private customers, while Deutsche Leasing is strengthening its expertise in inventory financing.
A CMS team headed by Prof. Björn Gaul and Dr Dirk Jannott advised the Deutsche Leasing Group on all aspects of the deal. This included both the transfer of the wholesale financing business through a complex carve-out of the associated part of the organisation and the increase in Deutsche Leasing Group’s stake in SKP by way of a share deal.
CMS Germany
Prof. Björn Gaul, Lead Partner, Employment
Dr Dirk Jannott, Lead Partner, Corporate
Thomas Gerdel, Partner, Tax
Dr Andreas Hofelich, Partner, Occupational Pensions
Dr Rolf Hempel, Partner, Antitrust
Dr Martin Friedberg, Partner, Tax
Artur Baron, Counsel, Corporate
Martin Michael Breuer, Counsel, Employment
Dr Mario Brungs, Counsel, Occupational Pensions
Till Komma, Counsel, Bank Regulation
Moritz Gerstmayr, Counsel, Bank Regulation
Martin Cholewa, Counsel, Antitrust
Florian Mantel, Associate, Bank Regulation
Annalena Drabas, Associate, Tax
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