Clifford Chance advises BNP Paribas on the exclusive negotiations between Arval and Mercedes-Benz Group for the acquisition of Athlon

Global law firm Clifford Chance has advised BNP Paribas on the exclusive negotiations between Arval and Mercedes-Benz Group for the acquisition of Athlon.

With a fleet of 1.9 million of vehicles under full-service leasing and the strongest growth momentum in the market as well as the highest quality of service – achieving an average annual increase of more than 100,000 units over the past three years – Arval, together with Athlon, would create a combined entity of close to 2.3 million vehicles, compared to the current leader with 2.6 million vehicles in full-service leasing.

This would significantly strengthen Arval’s presence in key markets and its competitive position in Europe, making it the European co-leader in full-service vehicle leasing.

The contemplated transaction remains subject to the information and consultation process with the relevant employee representative bodies of the entities concerned. The completion of the acquisition of 100% of Athlon is expected in 2026, following receipt of the necessary approval from the competent authorities.

The international Clifford Chance team for BNP Paribas was led by partners Thomas Krecek (Frankfurt), Tim Heerschop (Amsterdam) and Mathieu Remy (Paris) and comprised senior associate Thomas Conradi (Munich), associate Marie Möllering (Frankfurt, all Corporate/M&A), partner Marc Benzler and senior associate Judith Werkmeister (both Financial Regulatory, Frankfurt and Munich), partner Christopher Fischer (Frankfurt) and counsel Astrid van Ommeren (Amsterdam) (both Employment), counsel Claus-Peter Knöller (Tax, Frankfurt), senior associate Michael Kümmel and associate Stephanie Giek (both TechDigital, Frankfurt) as well as partner Marc Besen (Antitrust, Düsseldorf).

The BNP Paribas in-house legal team was led by Louis-Philippe Vasconcelos (Global Head of M&A/Private Equity – Legal) and included Laure Khemiri (M&A Private Equity Legal Counsel) and Louis Romero (M&A Private Equity Legal Counsel).