KPMG Law and KPMG advise startup Velocity from Aachen on the formation of a joint venture with the newspaper publisher Aachen

KPMG Law Rechtsanwaltsgesellschaft mbH (KPMG Law) provided legal advice and tax advice to the startup Velocity Mobility GmbH (formerly: Velocity Aachen GmbH) on the formation of a joint venture with Aachener Verlagsgesellschaft mbH and to KPMG AG Wirtschaftsprüfungsgesellschaft (KPMG). Velocity Region Aachen GmbH was entered in the commercial register on September 9, 2019.

The startup Velocity Mobility GmbH was founded in 2014 with headquarters in Aachen. Velocity operates and develops an extensive pedelec (e-bike) rental system throughout the city of Aachen. The e-bikes can be rented via app or directly at the rental stations. Velocity operates and develops the pedelec rental system with the support and public funding of the city of Aachen and has already entered into cooperative agreements with RWTH Aachen University, FH Aachen University of Applied Sciences and Stadtwerke Aachen. Velocity currently operates about 50 rental stations with about 180 e-bikes.

Aachener Verlagsgesellschaft mbH, headquartered in Aachen, is the majority shareholder of Zeitungsverlag Aachen GmbH and publisher of the Aachener Zeitung and its local editions in the Aachen city region, Heinsberg district and Düren district. The participation in the joint venture represents a strategic investment through which the topic of mobility and the diverse media products of Aachener Verlagsgesellschaft mbH are to be combined.

Velocity has a 51% stake in the joint venture, Velocity Region Aachen GmbH, and Aachener Verlagsgesellschaft mbH has a 49% stake. The pedelec rental system will be operated and developed by the joint venture in the future. With the joint venture, it is planned to significantly expand the network of rental stations as well as the vehicle fleet and to broaden the range of services, for example for business customers. There are also plans to expand the Velocity pedelec rental system to parts of the Aachen city region and to Belgian and Dutch border communities.

As part of the transaction, KPMG Law provided legal advice on the negotiation of the agreement underlying the joint venture and the implementation of the investment in the joint venture. KPMG advised on the tax aspects of the investment.

Consultant Velocity Aachen GmbH

KPMG Law Rechtsanwaltsgesellschaft mbH: Dr. Philipp Wüllrich, LL.M., Partner, Legal Deal Advisory, Lead Partner, Cologne, Stephan Schaal, Senior Associate, Legal Deal Advisory, Cologne

KPMG AG Wirtschaftsprüfungsgesellschaft: Florian Merkel, Manager, Corporate Tax Services

Consultant Aachener Verlagsgesellschaft mbH

Mazars Rechtsanwaltsgesellschaft mbH, Hamburg