Oppenhoff & Partner advises akf Bank on acquisition of CIT Industriebank

akf bank GmbH & Co. KG has acquired the entire shares in CIT Industrie Bank (Germany) GmbH from the CIT Group. The purchase price is confidential.

The akf Group is the financing partner of medium-sized businesses via akf bank, akf leasing and akf servicelease – with services ranging from dealer purchase financing and factoring for customers’ customers to the direct financing of commodities.
The global CIT Group offers enterprises financial and consultancy services.

A team of Oppenhoff & Partner led by Corporate Partner Dr. Peter Etzbach, extensively advised akf Bank during the transaction. Further team members were Dr. Gunnar Knorr, Marc Krischer (tax law), Christoph Appel (M&A, bank supervisory law), Jörn Kuhn, Isabel Hexel (pension law, labour law), Daniel Dohrn (antitrust law) and Alf Baars (corporate law).

Oppenhoff & Partner advises enterprises and entrepreneurs in national and international M&A transactions. The law firm most recently advised inter alia

• NH Hoteles on the sale of five hotel properties in Germany and Austria
• IPS on the acquisition of the majority in the largest Italian editorial distributor Messaggerie Internazionali S.p.A.
• RTL on the acquistion of netzathleten.net
• Italian state railway Ferrovie dello Stato S.p.A. on the establishment of a joint venture with the Luxembourg infrastructure fund Cube Transport, which acquired Arriva from Deutsche Bahn
• Wegmann on the assumption of the Siemens’ shares in Krauss-Maffei Wegmann

Oppenhoff & Partner stands for over 100 years of legal counselling on a top level. The independent firm advises national and international companies and entrepreneurs on matters of commercial and tax law.