Linklaters and White & Case have won the lead roles on the sale of a major German service station chain, reportedly valued at €3.5bn (£2.4bn).

Linklaters is leading for private equity group Terra Firma and co-investor Deutsche Asset & Wealth Management, part of Deutsche Bank, on their sale of German service station company Tank & Rast.

White & Case is acting for the Allianz Capital Partners-led consortium that is buying the chain. The consortium also includes sovereign wealth fund Abu Dhabi Investment Authority, Munich Re's asset manager MEAG and infrastructure fund Borealis.