BAWAG Group AG (WBAG:BG) signed a sale and purchase agreement to acquire DCL Evolution and Alsatram and Dexiarail and Dexia FB France and Dexia RB France from Dexia Crédit Local S.A. on December 8, 2023. This transaction will enable BAWAG Group to refinance a roughly ?750 million leasing portfolio from Dexia Crédit Local. The leasing assets being refinanced are comprised of approximately 80 contracts to mainly public sector related counterparties.

No employees will be transferred as part of this agreement. The transaction is expected to close during the first quarter of 2024. Serge Tatar on M&A aspects, Damien Luqué on regulatory aspects, David Soreln tax aspects and Benoit Neveu on public law aspects of Lacourte Raquin Tatar as legal advisor to Dexia Crédit Local.

Hogan Lovells Germany acted as legal advisor to BAWAG .Yann Beckers of Stephenson Hardwood acted as legal advisor to BAWAG.