Frank\u00adfurt a.M. \u2014 Volks\u00adwa\u00adgen Finan\u00adcial Services AG (\u201cVWFS\u201d) has ente\u00adred into a joint venture with J.P. Morgan Inter\u00adna\u00adtio\u00adnal Finance Limi\u00adted (\u201cJPM\u201d) in Volks\u00adwa\u00adgen Payments S.A.. Volks\u00adwa\u00adgen Payments S.A. is an e\u2011money insti\u00adtu\u00adtion that concen\u00adtra\u00adtes payment solu\u00adti\u00adons for the Volks\u00adwa\u00adgen Group brands and offers e\u2011wallet accounts and payment proces\u00adsing for Volks\u00adwa\u00adgen AG custo\u00admers. \u2014 McDer\u00admott Will & Emery advi\u00adsed Volks\u00adwa\u00adgen Finan\u00adcial Services AG (\u201cVWFS\u201d) on its joint venture with J.P. Morgan Inter\u00adna\u00adtio\u00adnal Finance Limi\u00adted (\u201cJPM\u201d) in Volks\u00adwa\u00adgen Payments S.A..<\/p>\n
By acqui\u00adring a 74.9 percent stake in Volks\u00adwa\u00adgen\u2019s payments busi\u00adness, JPM is taking a majo\u00adrity voting inte\u00adrest in Volks\u00adwa\u00adgen Payments S.A. with the goal of stra\u00adte\u00adgi\u00adcally opening the company to the broa\u00adder auto\u00admo\u00adtive indus\u00adtry, expan\u00adding Volks\u00adwa\u00adgen Payments S.A.\u2018s digi\u00adtal payments capa\u00adbi\u00adli\u00adties and further deve\u00adlo\u00adping the plat\u00adform for new markets and indus\u00adtries outside the auto\u00admo\u00adtive sector. VWFS will remain a share\u00adhol\u00adder in the part\u00adner\u00adship and will help shape the joint venture accor\u00addin\u00adgly. The plat\u00adform will conti\u00adnue to enable payments across the Volks\u00adwa\u00adgen network for all Group brands worldwide.<\/p>\n
The tran\u00adsac\u00adtion is expec\u00adted to close in the first half of 2022 and is subject to appr\u00adovals by the merger control autho\u00adri\u00adties, confir\u00adma\u00adtion by the Luxem\u00adbourg super\u00advi\u00adsory autho\u00adrity and the U.S. Board of Gover\u00adnors of the Fede\u00adral Reserve System, and appr\u00adoval by the German Fede\u00adral Minis\u00adtry of Econo\u00admics and Technology.<\/p>\n
Advi\u00adsing Volks\u00adwa\u00adgen Finan\u00adcial Services AG: McDer\u00admott Will & Emery, Frankfurt<\/strong> Frank\u00adfurt a.M. \u2014 Volks\u00adwa\u00adgen Finan\u00adcial Services AG (\u201cVWFS\u201d) has ente\u00adred into a joint venture with J.P. Morgan Inter\u00adna\u00adtio\u00adnal Finance Limi\u00adted (\u201cJPM\u201d) in Volks\u00adwa\u00adgen Payments S.A.. Volks\u00adwa\u00adgen Payments S.A. is an e\u2011money insti\u00adtu\u00adtion that concen\u00adtra\u00adtes payment solu\u00adti\u00adons for the Volks\u00adwa\u00adgen Group brands and offers e\u2011wallet accounts and payment proces\u00adsing for Volks\u00adwa\u00adgen AG custo\u00admers. \u2014 McDer\u00admott Will [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":38066,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1366,1367,1368,1371,1372],"tags":[],"class_list":["post-40258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-news-en","category-lawyers-tax-advisors-auditors-en","category-lawyers-tax-consultants-auditors","category-deals-en","category-consultant"],"yoast_head":"\n
\nProf. Dr. Clemens Just, Photo<\/strong> (Lead, Corpo\u00adrate), Dr. Heiko Kermer, Marcus Fischer (Coun\u00adsel; both Tax), Joseph Marx, Rick Mitchell (Coun\u00adsel, London; both Capi\u00adtal Markets), Stef\u00adfen Woitz, Dr. Claus F\u00e4rber (Coun\u00adsel; both Data Protection\/IT, Munich), Dr. Deniz Tschamm\u00adler (Coun\u00adsel, Commercial\/Regulatory, Munich), Ted Lauren\u00adson (Coun\u00adsel, San Fran\u00adcisco; Regu\u00adla\u00adtory); Asso\u00adcia\u00adtes: Isabelle M\u00fcller, Lisa Schick\u00adling (both Corpo\u00adrate), Pauline Walde (Inter\u00adna\u00adtio\u00adnal Dispute Reso\u00adlu\u00adtion), Tina Zeller (Real Estate), Max K\u00fctt\u00adner (Anti\u00adtrust, D\u00fcssel\u00addorf), S\u00f6nke Wasser\u00admann (Trai\u00adnee, Labor Law).
\nInhouse Volks\u00adwa\u00adgen Finan\u00adcial Services AG: Mustafa Shahs\u00adwar (Legal Coun\u00adsel), Sebas\u00adtian Stef\u00adfen (Mergers & Acquisitions)<\/p>\n","protected":false},"excerpt":{"rendered":"