Noerr advises Volkswagen Financial Services AG on acquisition of LogPay Financial Services GmbH

27.02.2019

Noerr has again advised Volkswagen Financial Services AG on a strategic corporate acquisition. As Europe’s largest provider of automobile financial services, Volkswagen Financial Services is taking over LogPay Financial Services GmbH from DVB Bank SE and thus further expanding its mobility business.

In 2017, Volkswagen Financial Services AG had already acquired a majority interest in LogPay Transport Services GmbH, a wholly-owned subsidiary of LogPay Financial Services GmbH active across Europe in the fuel card and toll settlement sector. LogPay Financial Services GmbH also owns LogPay Mobility Services GmbH, the leading payment processor in the public transport sector.

Since Volkswagen Financial Services AG acquired its stake, LogPay Transport Services GmbH has significantly expanded its fuel card acceptance network. Truck, car and fleet customers today have access to over 6,500 services stations in Germany and to more than 12,000 petrol stations across Europe. LogPay operates as a network aggregator, bringing various petrol station providers together in one fuel card.

By acquiring LogPay Financial Services GmbH, Volkswagen Financial Services AG is securing – via LogPay Mobility Services GmbH – considerable additional market potential in the public transport payment processing sector. As the industry leader, LogPay Mobility Services GmbH currently processes the payment transactions of many reputable public transport companies. LogPay Financial Services GmbH also manages the freight settlement processes of DVB Bank SE, and will continue to do so under the new ownership structure.

The transaction is still subject to regulatory approval.

The transaction was overseen by a Noerr team headed by Felix Blobel and Ariane Neubauer. The two Berlin-based Noerr partners already advised Volkswagen Financial Services in 2015 on its acquisition of a majority interest in sunhill technologies GmbH and in 2017 on the acquisition of a majority interest in LogPay Transport Services GmbH, and recently on Daimler’s investment in the used-car platform heycar.

Advisors to Volkswagen Financial Services AG: Noerr LLP

Felix Blobel, Ariane Neubauer (joint team lead, Corporate, Berlin), Evelyn Schulz (Digital Business, Dresden), Dr Jens H. Kunz (Financial Supervisory, Frankfurt), Peter Stauber (Antitrust & Competition), Dr Stefan Schwab (Employment & Pensions), Dr Torsten Kraul (Digital Business; all Berlin)

Associates: Dr Karl-Alexander Neumann (Financial Supervisory, Hamburg), Susann Jahn (Digital Business, Dresden), Dr Mario Merget (Employment & Pensions), Dr Julia Berdin (Digital Business), Ethel Nanaeva, Dr Franziska Kühn, Francesc Lloveras, Stefanie Heinemann (all Corporate, all Berlin)

In-house counsel (Braunschweig): Dominic Lange (Legal Counsel)

PR team


Corporate
Mergers & Acquisitions

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