Düsseldorf, October 11, 2006 — LAWFUEL – Europe Business + Law – Shearman & Sterling advised Kommanditgesellschaft Allgemeine Leasing GmbH (KGAL) in the auction process related to the sale of all shares in Disko Group (which includes Diskont und Kredit AG and Disko Leasing GmbH) and on the sale of all shares in ASL Auto Service-Leasing GmbH (ASL). The Acquirer is a subsidiary of General Electric Capital Corp.
Disko is a leading finance institution active in the area of international specialty object financing via leasing and credit products. ASL is the second largest non-captive German automobile and fleet leasing company. Both Disko and ASL were important subsidiaries of KGAL, which is owned by Allianz/Dresdner Bank, Bayerische Landesbank, Hamburger Sparkasse and Sal. Oppenheim.
Closing of the transaction is subject to customary conditions including clearance by merger control and bank supervisory authorities and is expected to occur until the end of 2006.
The following Shearman & Sterling attorneys advised KGAL on the transaction: Harald Selzner (partner, M&A/Corporate, Düsseldorf), Johannes Frey (partner, Tax, Frankfurt) and Martin Neuhaus, Christian Zeppezauer and Christoph Neven (all associates, M&A/Corporate, Düsseldorf).