Gleiss Lutz advised Siemens AG and Siemens Financial Services GmbH on the sale of Siemens Finance Zrt. and Siemens Leasing Kft. The two Hungarian leasing companies were purchased by financial service provider De Lage Landen International B.V., a member of the Dutch Rabobank Group. The sale was carried out in the form of a bidding procedure. The completion of the transaction is still subject to the approval of the Hungarian banking supervisory authority. Closing is expected by the end of the 1st quarter 2008.
Siemens was advised by Gleiss Lutz lawyers Dr. Ralf Morshäuser (partner, corporate/M&A, Munich) and Dr. Barbara Jagersberger (corporate/M&A, Munich). In-house advice for the transaction was provided by Sabine Kalbitz (legal services, M&A). With regard to Hungarian law issues, advice was provided by Bán, S. Szabó & Partners, a Budapest law firm with whom Gleiss Lutz cooperates.
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