White & Case advises Morgan Stanley Infrastructure Partners on indirect sale of VTG shares

Global law firm White & Case LLP has advised Morgan Stanley Infrastructure Partners (MSIP), a global leader in private infrastructure equity investing, on the largest infrastructure private equity and the largest private equity deal in Germany in 2022.

Deodoro Holding B.V., which is part of MSIP, has sold its VTG AG (VTG) shares to a consortium of Global Infrastructure Partners and Abu Dhabi Investment Authority (ADIA). 

Alongside MSIP, Joachim Herz Stiftung also sold its shares in VTG leading to an overall sale of approximately 72.5 percent of its shares. OMERS Infrastructure is the remaining shareholder with the consortium. 

The estimated value of VTG, a leading international asset owner and rail logistics company with around 88,500 railcars, Europe's largest privately-owned fleet, is approximately €7 billion.

Founded in 2006, MSIP is a leading global private infrastructure investment platform with more than US$16 billion in assets under management since inception and a diverse portfolio of more than 30 investments across transport, digital infrastructure, energy transition and utilities.

The White & Case team which advised on the transaction was co-led by partners George Kazakov (London), Stefan Koch (Frankfurt) and local partner Thyl Haßler (Düsseldorf), and included partners Thomas Burmeister (Düsseldorf), Tilman Kuhn (Düsseldorf & Brussels), Lars Petersen (Hamburg & Berlin), Thomas Glauden (Luxembourg & Brussels), Dolly Mirchandani, Todd Wolynski (both New York) and Alexandre Jaurett (Paris), local partners Sebastian Stütze, Anna Dold (both Frankfurt), Jan Jakoubek (Prague) and Philippe Hendrickx (Brussels), counsel Sascha Schmidt (Frankfurt), David Wright (London), Andreas van den Eikel and Kathrin Ahting (both Berlin), and associates Eojin Lie, Paul Kohlhaas, Mathias Bogusch (all Frankfurt), Sonja Sehr (London & Frankfurt) ,Petra Kistner, Verena Rudolph, Lisa Reichstein (all Düsseldorf), Mathilda Xu (Berlin), Edouard de Walque, Sara Ben Othmen, Rodrigo Belle Gubbins (all Brussels), Eline Souffriau (Brussels & Luxembourg), Thomas Jacques, Tigran Saakyan (both Dubai), Niels Ardeo-Winter, Emmanuel Chevignon (all Paris), Rita Li (Shanghai) and Michał Szczepański (Warsaw).

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