Milbank LLP has advised PTV Planung Transport Verkehr AG on the sale of its majority stake in PTV Truckparking B.V. to Volkswagen Financial Services.
Volkswagen Financial Services acquires 75.1 percent of the shares in the company and aims to strengthen its market position in the strategic parking business segment, increase synergies and further extend existing offers with point-of-interest data.
PTV Group is a leading developer of intelligent software solutions for transport logistics, traffic planning and traffic management. More than 2,500 cities use PTV products and transports with over one million vehicles are planned with PTV software. PTV Truckparking B.V. is part of the German company PTV Planung Transport Verkehr AG and operates the Truck Parking Europe web platform, which makes it easier for truck drivers to find and reserve truck parking spaces on motorways. With more than one million downloads, Truck Parking Europe is one of the most successful community-based platforms in the industry.
Volkswagen Financial Services with its subsidiaries is a division of Volkswagen AG. Volkswagen Financial Services has more than 15,000 employees worldwide and a balance sheet total of more than €186 billion.
The Milbank team led by Michael Bernhardt (Picture) advised PTV Planung Transport Verkehr AG, and included Sebastian Dexheimer (both Corporate/M&A, Frankfurt), Matthias Schell (Tax, Munich).
Law Firms: Milbank;
Clients: PTV Planung Transport Verkehr AG ;