International legal practice Norton Rose LLP has advised long-standing client, BMW AG, on its approximately €700 million acquisition of ING Car Lease, ING Group's car leasing and fleet management business. ING Car Lease operates in eight European countries and following completion will be combined with Alphabet, the international multi-brand fleet management division of BMW. The deal, that was announced in July, completed last week having been cleared by European regulatory authorities. The deal sees Alphabet increase its number of company cars under management to approximately 540,000 with operations in 16 countries in Europe
In addition, Spanish law advice was provided to BMW by Garrigues (Iñigo Bastarreche, partner), Luxembourg law advice was provided to BMW by Wildgen (Michel Bulach, partner) and Belgian law advice was provided to BMW by Liedekerke (Philippe Malherbe, partner)
Rothschild acted as BMW's financial adviser on the transaction and Ernst & Young advised on tax and financial matters.
