Clifford Chance has advised Volkswagen Financial Services AG on the acquisition of the financial services business from MAN Group.

Through the acquisition, Europe's largest automotive financial services provider will extend its business by providing financing, leasing and renting solutions for MAN Truck & Bus. Volkswagen Financial Services intends to further expand the financial services activities in this area in order to strengthen the sales objectives of the brand.

The Clifford Chance team was led by partner Dr. André Schwanna (Corporate, Frankfurt) and included senior associates Frederik Mühl and Dr. Benjamin Büttner, counsel Jörg Futter, associates Carmen Büker and Florian Lechner as well as transaction lawyer Julia Wahls (all Corporate, Frankfurt), associate Anja Schöder (Corporate/Employment law, Düsseldorf), partner Dr. Marc Benzler, senior associate Holger Schelling and associate Tanja Gropp (all Banking & Capital Markets, Frankfurt) as well as partner Dr. Uwe Schimmelschmidt and senior associate Dr. Alexander Täumer (both Tax, Frankfurt).

The team also included lawyers from Clifford Chance offices in other jurisdictions, such as Barcelona, Istanbul, London, Madrid, Milan, Moscow, Paris, Prague and Warsaw.