Hyundai Capital Bank Europe GmbH made an offer to acquire the remaining 58.1% stake in Sixt Leasing SE (XTRA:LNSX) for approximately €220 million on February 21, 2020. The offer per share is €18. The deal value is payable in cash. If the takeover offer is still settled prior to this year’s annual general meeting of Sixt Leasing SE, the cash consideration will be increased, depending on the group profit for the financial year 2019 as stated in the audited consolidated annual accounts of Sixt Leasing SE, by up to €0.90 per tendered share of Sixt Leasing. In a related deal, Hyundai Capital Bank Europe GmbH signed an agreement to acquire 41.9% stake in Sixt Leasing SE on February 21, 2020. There is no plan to undertake any major restructuring given complementarily of business activities. The brand of Sixt Leasing will be retained for a transition period of five years until comprehensive re-branding in order to facilitate retention of customer relationships. The offer is subject to certain conditions including certain merger control and other regulatory clearances including approval from European Commission, German owner control clearance, a minimum acceptance threshold of 55% of shares of Sixt Leasing and other customary closing conditions. As of June 4, 2020, transaction is subject to approval of European Commission. European Commission has set a provisional deadline of July 9, 2020, to approve the deal. As of April 6, 2020, Sixt Leasing managing board and supervisory board recommended Sixt Leasing shareholders to accept the offer. Sixt SE and Sixt family welcome and fully support the offer. The acceptance period of the offer is between March 24, 2020 to April 30, 2020. There will be an additional acceptance period of two weeks in case that the minimum acceptance threshold of 55% will be reached. As of April 30, 2020, the acceptance period was completed. The minimum threshold of 55% was reached. The acceptance rate of shares has roughly reached 73% above the minimum acceptance threshold of 55%. The additional acceptance period for voluntary public takeover offer by Hyundai Capital Bank Europe GmbH will end on May 20, 2020. On May 26, 2020, Hyundai Capital Bank announced the final result of its voluntary public takeover offer to the shareholders of Sixt Leasing. Hyundai Capital accepted 92.07% at the end of the additional acceptance period provided. The completion of the takeover offer is still subject to the remaining customary closing conditions set out in the offer document. As of July 7, 2020 the transaction was approved by The European Commission. The deal is expected to close in second half of 2020. Natalie Daghles, Harald Selzner, Sebastian Goslar, Oliver Felsenstein, Stefan Süß, Ulf Kieker, Alexandra Hagelüken, Frank Bierwirth, Dirk Schnelle, Jana Dammann, Thies Deike, Markus Krüger, Joachim Grittmann, Steve Kang of Latham & Watkins acted as legal advisors to Hyundai. Hyundai Capital Bank Europe GmbH completed the acquisition of the remaining 50.1% stake in Sixt Leasing SE (XTRA:LNSX) for approximately €190 million on July 16, 2020. Hyundai Capital received acceptances of approximately 92% shares as a part of the offer. In connection with the completion of the transaction, the Chairman of the Supervisory Board of Sixt Leasing SE, Erich Sixt, has resigned from his office with effect from the end of 15 July 2020. Likewise, the Deputy Chairman of the Supervisory Board, Marcus Englert, has resigned from his office. Julian zu Putlitz will continue his office as member of the Supervisory Board of Sixt Leasing SE.