IFLR1000

Global Mobility Holding €3.7 billion sale of LeasePlan

23/7/2015
Acquisition finance, Investment grade bond/note issue, Private acquisition
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€ 3.7 billion

$ 3.91 billion

Completed

23/7/2015

Overview:

  • A consortium of investors including TDR Capital, PGGM, Goldman Sachs, ADIA, GIC and ATP has acquired LeasePlan Corporation, from Global Mobility Holding for €3.7 billion via portfolio company LP Group.
  • Leaseplan is a Flevoland-Netherlands based fleet management company. It has around 1.42 million vehicles in its management portfolio and is is present in 32 countries
  • The deal was financed via €1.78 billion of credit facilities and issues by LP Group of €1.25 billion 6.875% senior secured notes due 2021 and $400 million of 7.375% senior secured notes due 2021.
  • Global Mobility Holding is a joint venture of Volkswagen and Fleet Investments.

Rani Mehta - Journalist 

Jurisdiction:

Netherlands

Deal types:

Acquisition finance
Investment grade bond/note issue
Private acquisition

Practice area:

M&A

Industry sectors:

Consumer goods and services
Automotive

Firms:
Allen & Overy

Party: LeasePlan (Target)

Lawyer: Karine Kodde

De Brauw Blackstone Westbroek

Party: TDR Capital (Acquirer)

Party: GIC (Acquirer)

Party: ATP Group (Acquirer)

Party: PGGM (Acquirer)

Party: Goldman Sachs (Acquirer)

Party: ADIA (Acquirer)

Freshfields Bruckhaus Deringer

Party: GIC (Acquirer)

Lawyer: Shawn der Kinderen (retired)

Linklaters

Party: TDR Capital (Acquirer)

Party: GIC (Acquirer)

Party: ATP Group (Acquirer)

Party: PGGM (Acquirer)

Party: ADIA (Acquirer)

Loyens & Loeff

Party: Global Mobility Holding (Seller)

Lawyer: Jan-Willem van Rooij

Simpson Thacher & Bartlett

Party: LP Group (Borrower, Issuer)

Lawyers: Gil Strauss, Stephen Short

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