German listed wagon hire and logistics company VTG has acquired Swiss wagon hire company AAE Ahaus Alstätter Eisenbahn Holding. Bär & Karrer acted as Swiss legal adviser to VTG.
The acquisition enables VTG to strengthen its position as the largest private wagon hire company in Europe, with a fleet consisting of around 80,000 wagons. The transaction is to be financed by way of newly issued VTG shares, a cash component and a subordinated vendor loan note with equity characteristics.
The transaction is subject to clearance by the competent antitrust authorities as well as by the lenders and is expected to be completed in the first half of 2015.
The Bär & Karrer team included Christoph Neeracher, Philippe Seiler, Christian Lenz, David Liatowitsch and Nikolaus Paum-gartner (all M&A) and Thomas Stoltz (employment).