Practice Areas - Corporate and M&A Law Firms and Lawyers
| Deal Date: | 11-01-2017 | Practice Area: | Corporate and M&A |
| Deal Title: | AUDI/BMW/Daimler Sale of HERE Equity to Chinese Consortium | Industry: | Automobiles & Parts |
| Description: |
Clifford Chance advised the joint venture formed by AUDI AG, BMW Group and Daimler AG on the sale of a 15%-stake in mapping service HERE to US chip manufacturer Intel and of a 10%-stake to a syndicate formed by two investors from China and one investor from Singapore.
The Asian investors taking stakes in HERE were Chinese internet group Tencent, Chinese mapping service provider NavInfo and Singapore's state fund GIC. The German car manufacturers thus reduced their indirect participation by 25%. The advice rendered by Clifford Chance mainly focused on the shareholders' agreements with the new investors and on corporate governance aspects as well as antitrust law issues.
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| Financial Center: | Munich | Value: | 0.00-0.00 |
| Advised Party: | Target Company | Law Firm | Clifford Chance |
| Target Company Jurisdiction | Germany | Acquiror Jurisdiction | China |
| Classification: |
Financial Buyer Acquisitions |
Lawyer | Nicole Englisch |
