Big four firm hails multi-million pound VW taxi app deal
KPMG in Manchester has advised Volkswagen on its £232m investment into an on-demand taxi ride hailing company.
The deal will fuel the expansion of Israel-headquartered Gett, which connects customers with taxi or private hire drivers through its website or smartphone app.
Gett operates in more than 60 cities around the world including London, Moscow and New York. In May 2016, it bought the black cab fleet of Radio Taxis, which operates with 11,500 black cab drivers in London.
For the German carmaker having a stake in Gett secure its involvement in the global mobility-on-demand market.
KPMG’s Legal Services team was led by partner Nick Roome, who was also recently named as its new UK head of Legal Services.
He said: “VW’s investment is further evidence of the growing importance of consumer focused technology to the automotive industry and its potential in shaping the evolution of global mobility.”
He added: “For Manchester, having a role in such a major cross-border transaction demonstrates the calibre and reputation of the talent we have in the North West. Our legal team worked alongside colleagues in KPMG Germany to provide a range of services to VW including tax, valuation and various due diligence work streams – a great example of a fully integrated approach to delivering solutions for our clients.”
