Noerr advises Volkswagen Financial Services on the cross-border reorganisation of its Italian business

A Noerr team led by partners Ralph Schilha, Patrick Mückl and Felix Blobel has once again advised Volkswagen Financial Services on a complex cross-border group reorganisation. As part of the reorganisation, an Italian subsidiary was merged into Volkswagen Bank GmbH through a cross-border merger.

The advisory work included structuring, preparing and implementing the corporate law aspects of the transaction, as well as advising on financial regulatory requirements and employment law matters.

Volkswagen Financial Services AG is a wholly owned subsidiary of Volkswagen AG and, as part of Volkswagen Group Mobility, manages the European financial and mobility services business for the Volkswagen Group brands. Volkswagen Bank GmbH is a wholly owned subsidiary of Volkswagen Financial Services AG. The services offered by Volkswagen Bank range from financing new and used vehicles of all Volkswagen Group brands to direct banking and dealer financing. According to its own figures, with deposits totalling €37.6 billion (as at 31 December 2023), Volkswagen Bank is one of the largest direct banks in Germany

Noerr regularly advises Volkswagen Financial Services on corporate matters and transactions and last year had already advised on two cross-border reorganisations.

Advisors to Volkswagen Financial Services: Noerr Partnerschaftsgesellschaft mbB

Lead: Ralph Schilha (partner, Corporate, Munich), Patrick Mückl (partner, Employment & Pensions, Düsseldorf), Felix Blobel (partner, Corporate, Berlin)

Corporate: Timm Gaßner (associated partner), Frédéric Prats (associate, both Munich)

Financial Services Regulation: Jens H. Kunz (partner), Christoph Schäfer (associate, both Frankfurt)

Employment & Pensions: Raphael Hillus (associate), Sophia-Clara Schulte (senior associate, both Düsseldorf)

In-house counsel: Volkswagen Financial Services (Braunschweig): Tom C. Blumenberg (legal counsel), Marina Weber (legal counsel)

Foreign Counsel: BonelliErede (Italy)