Ashurst advised Dutch Infrastructure Fund (DIF) and Aberdeen Standard Investments (ASI) on the acquisition of 100% of UNITANK Group through a jointly held acquisition vehicle.

UNITANK, a privately-held German-based business, operates six large storage terminals for mineral oil products in Germany and Belgium, with a capacity of 1.1 million cubic metres.

Ashurst advised on the acquisition by DIF and Aberdeen Standard Investments as well as on the financing of the transaction. The acquisition requires antitrust clearance by the EU Commission.

The Ashurst team was led by partners Dr Maximilian Uibeleisen (Energy/Resources & Infrastructure) and Dr Benedikt von Schorlemer (Energy/M&A). Partner Derk Opitz advised on the financing, partner Dr Martin Bunning advised on tax aspects, competition law was covered by partner Dr Michael Holzhauser (all Frankfurt). In addition, partners Arnaud Wtterwulghe and David Du Pont (both Brussels) advised on Belgian law.

The partners were supported by counsel Dr Philip Cavailles, associates Jan van Kisfeld and Jan Ischreyt (all Corporate/M&A, Frankfurt), counsel Holger Mlynek, associate Dr Simon Groneberg (both Energy/Commercial, Frankfurt), counsel Dr Maria Held (Competition, Munich), senior associate Gabrielle Metherall and associate Emilie Veyran-Muller (both Banking & Finance), associate Florian Worner (Real Estate), counsel Juditha von der Heydt (Employment, all Frankfurt), associates Yana Paulovich and Clement Dekemexhe (both Belgian law, Brussels), as well as counsel Paul Witte and associates Ludmilla Bouchez-Lecuy and Caroline Stalter (Luxembourg law, Luxembourg).