Baker & McKenzie has advised Daimler AG on the acquisition of Athlon Car Lease International B.V. in a deal worth EUR1.1 billion.

The Athlon group is a car lease company with a portfolio of more than 255,000 vehicles and a provider of mobility solutions.Daimler has now expanded its lease portfolio from 85,000 to 340,000 cars as a result of this transaction, significantly strengthening its market position.

This cross-border deal, led by corporate partner Casper Banz of Baker & McKenzie Amsterdam, involved 15 of Baker & McKenzie offices: Amsterdam, Antwerp, Brussels, Düsseldorf, Frankfurt, London, Luxembourg, Madrid, Milan, Munich, Paris, Rome, Stockholm, Warsaw and Zürich. Casper Banz commented: "It was a great experience to assist Daimler - with a strong combination of many of Baker & McKenzie offices across Europe - in achieving its aim to increase in its market presence in the car lease/mobility business".

The transaction is expected to close in the fourth quarter of 2016. Baker & McKenzie team  was led by Casper Banz (partner corporate, Amsterdam) and included Martine van de Laar, Emma Mulders, Susan Heerings and Joost Polman.