Ashurst’s German arm has carried out its first major mandate for US private equity house Apollo Management advising on its €1.5bn (£1bn) acquisition of Dutch mail company TNT’s logistics branch.

The City giant bagged a secondary role behind regular Apollo adviser Wachtell Lipton Rosen & Katz on the deal, which was carried out under Dutch law but involved German law aspects due to the majority of the target’s assets being situated in Germany.