Biggest M&A deal ever in electric vehicle sector in China, counselled by Freshfields
Global law firm Freshfields Bruckhaus Deringer LLP, has advised German automaker Volkswagen in regards to its major investments in Chinese state-owned automobile and commercial vehicle manufacturer Anhui Jianghuai Automobile Group (“JAC Motors”), as announced in a press release of June 16th, 2020.
This transaction is the largest M&A deal in China´s electric vehicle sector to date, and an important project under China´s “mixed ownership” reform of state-owned enterprises. Under the terms of the agreement, Volkswagen is going to take a 50 per cent stake in JAC Motors and increase its holding in the existing JAC-Volkswagen joint venture from 50 to 75 percent for around 1 billion euros.
Partners Yuxin Shen and Alan Wang led the Freshfields team advising on the deal, with partner Ninette Dodoo giving antitrust advice.