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Allen & Overy advises VTG Tanktainer on the sale of its overseas activities to Suttons Group

Suttons International Limited and VTG Tanktainer GmbH, a subsidiary of VTG Aktiengesellschaft (VTG), have announced that they have signed an Asset Purchase Agreement outlining the acquisition by Suttons of VTG’ overseas ISO tank containers, personnel, and customer contracts, including VTG interests in a joint venture with Mission Line in Brazil.

Allen & Overy is advising VTG Tanktainer on this transaction.

Headquartered in Hamburg, VTG Aktiengesellschaft is a global asset owner and logistics company with a strong focus on rail. Besides hiring out rail freight wagons and tank containers, it also provides multimodal logistical services and integrated digital solutions. The company’s fleet includes around 94,000 rail freight wagons – mostly tank wagons, intermodal wagons, standard freight wagons and sliding-wall wagons – as well as about 9,000 tank containers. The company’s subsidiaries and affiliates give it a sizable footprint in Europe, North America, Russia and Asia. Effective December 31, 2020, VTG employed around 2,100 people worldwide.

In selling its overseas activities, VTG Aktiengesellschaft is strategically realigning its VTG Tanktainer business unit. In the future, VTG Tanktainer will focus on the global leasing of tank containers, flanked by integrated logistical services.

Suttons International Limited is part of the family-owned Suttons Group, a leading UK and global logistics business providing end-to-end solutions and services to the bulk liquid, gases and powders sectors.

The Allen & Overy team is led by partners Dr Nicolaus Ascherfeld and Max Landshut and counsel Marie-Luise von Buchwaldt. The team further comprises partner Dr Michael Ehret (Tax, Frankfurt), counsel Dr Sebastian Remberg as well as associates Dr Naemi Czempiel (both Corporate/M&A), Merle Herrmann (employment, all Hamburg), Sven Bischoff (Tax, Frankfurt) and Anna Kräling (IP, Düsseldorf). Teams from Amsterdam, New York and Singapore also provide legal advice.

VTG Tanktainer is advised inhouse by Stefan Lohmeyer, Kirsten Gronau and Markus Heischmann.