Global law firm Norton Rose Fulbright has advised DVB, the transportation finance division of DZ Bank AG, on the sale of its aviation finance group to Japan’s Mitsubishi UFJ Financial Group (MUFG) and its affiliated leasing operation BOT Lease (BOTL).
Under the purchase agreement, the entire aviation client lending portfolio of DVB Bank will be transferred to MUFG. DVB Bank’s aviation investment management and asset management businesses will be transferred to BOTL. The transaction is expected to close during the second half of 2019.
This is the second major cross-border sale for DVB that the firm has advised on in recent weeks. In December 2018, the firm advised DVB and DZ Bank AG on the sale and transfer of DVB’s land transportation business to German public sector lender Landesbank Hessen-Thüringen Girozentrale (Helaba). That transaction is expected to close during 2019.
In both transactions, Norton Rose Fulbright advised DVB as co-counsel with Freshfields in Germany.
These are the most recent examples of a number of portfolio sales and acquisitions the firm has acted on involving aviation, rail and shipping assets, reflecting its experience in advising on high-level and complex cross-border assignments for banks.
The Norton Rose Fulbright cross-border team on these sales was led by partners Alan Bainbridge and Simon Lew and included Timo Noftz in Hamburg, Tom Johnson, Imogen Garner, Mark Tricker and Marcus Evans in London and Sean Corrigan in New York.
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