---
title: K&L Gates Advises VTG on EUR780 Million Purchase of Nacco Group
date: '2017-07-03'
year: 2017
lang: en
type: post
wp_slug: kl-gates-advises-vtg-on-eur780-million-purchase-of-nacco-group
wp_url: >-
  http://armingaud-avocat.fr/en/kl-gates-advises-vtg-on-eur780-million-purchase-of-nacco-group/
categories:
  - Deal
tags:
  - site
created: '2017-07-03'
modified: '2017-07-03'
published: '2017-07-03'
---

Global law firm [K&L Gates LLP](<http://www.klgates.com/>) advised [VTG Aktiengesellschaft](<https://www.vtg.com/uk/>), one of Europe’s leading rail freight and logistics companies, on the purchase of all shares of CIT Rail Holdings (Europe) SAS and its related Nacco Group from CIT Group Inc. The Nacco Group has a fleet of around 14,000 rail freight cars with major markets in France, Germany, Austria, and Eastern Europe.

The purchase price amounts to approximately €780 million plus additional investments into further freight cars made by the Nacco Group between January 1, 2017, and the completion of the transaction. VTG plans to finance the acquisition through a senior loan and a privately placed hybrid bond. The transaction is subject to the approval of antitrust authorities.

Berlin-based corporate partner [Dr. Thomas Lappe](<http://www.klgates.com/thomas-lappe/>) led the transaction in close collaboration with corporate partners [Howard Kleiman](<http://www.klgates.com/howard-d-kleiman/>) in London and [Jean-Patrice Labautière ](<http://www.klgates.com/jean-patrice-labautiere/>)in Paris. They were supported by partners [Nicolas Roggel](<http://www.klgates.com/nicolas-roggel/>) (Berlin, labor law), [Christine Artus](<http://www.klgates.com/christine-artus/>) (Paris, labor law), [Tom Wallace](<http://www.klgates.com/tom-r-wallace/>) (London, M&A), [Giles Bavister](<http://www.klgates.com/giles-bavister/>) (London, tax), [Claude-Etienne Armingaud](<http://www.klgates.com/claude-etienne-armingaud/>) (Paris, IT/data privacy), Dr. [Bastian Bongertz](<http://www.klgates.com/bastian-claus-daniel-bongertz/>) (Frankfurt, Finance), [Bertrand Dussert](<http://www.klgates.com/bertrand-dussert/>) (Paris, tax), and [Mounir Letayf](<http://www.klgates.com/mounir-letayf/>) (Paris, finance), counsel [Adeline Roboam](<http://www.klgates.com/adeline-roboam/>) (Paris, finance), and as well as senior associates [Andreas Menge](<http://www.klgates.com/andreas-menge/>) (Berlin), [Caroline Urban](<http://www.klgates.com/caroline-urban/>) (London), and [Arthur Anton](<http://www.klgates.com/arthur-anton/>) (Paris).

**Source** : [K&L Gates Website](<http://www.klgates.com/kl-gates-advises-vtg-on-eur780-million-purchase-of-nacco-group-07-03-2017/>)