Pon sold a 49% stake in the Bike Mobility Services group ("BMS") to Volkswagen Financial Services ("VWFS"), together entering into a strategic alliance in the business of company bike leasing. BMS is a bike leasing company operating in six countries: Germany, the Netherlands, Austria, Belgium, Sweden, and the US. BMS aims to develop sustainable and affordable bike mobility services for employers and their employees. Pon and VWFS are aiming to jointly expand in the growing bicycle and e-bike leasing business in Europe and the USA and build on the long tradition of cooperation between Pon and the Volkswagen Group. The transaction is subject to customary closing conditions, including regulatory approvals. De Brauw acted as sole counsel to Pon, advising on a range of topics including corporate, M&A, tax and competition.