Posts

Latham advises NVIDIA on US$40 Billion acquisition of Arm

Latham & Watkins LLP represents NVIDIA in its acquisition of Arm Limited (Arm) from SoftBank in a cash and stock deal valued at up to US$40 billion. The combination brings together NVIDIA’s leading AI computing platform with Arm’s vast ecosystem to create the premier computing company for the age of artificial intelligence, accelerating innovation while expanding into large, high-growth markets. SoftBank will remain committed to Arm’s long-term success through its ownership stake in NVIDIA, expected to be under 10 percent.

The Latham deal team is led by M&A partners Josh Dubofsky and Charles Ruck in Silicon Valley and New York and Ed Barnett and Farah O’Brien in London, with associates Saad Khanani, Amro Suboh, Hector Sants, Stephanie Isaia, Oliver Cohen, Rachelle Polsky, Michael O’Halloran, Andria Varnavides, Angharad Simon, and Saavan Shah. San Francisco partner Joshua Holian, Brussels partner Sven Völcker, Washington, D.C. partner Les Carnegie, and London partners David Little and Charles Claypoole advised on regulatory matters with counsels Rita Motta, Jana Dammann, and Annie Froehlich, and associates Sophia Bertran, Natasha Pardawala, Giuditta Caldini, Alexandra Luchian, Niklas Brüggemann, and Rob Price.

Advice was also provided on tax matters by Washington, D.C. partner Nicholas DeNovio and London partner Sean Finn, with associates Pierce Pandolph, Aoife McCabe, and Jared Grimley; on intellectual property matters by London partner Deborah Kirk and Silicon Valley partner Anthony Klein, with associates Arielle Singh, Kirsty Watkins, Grace Erskine, and Elva Cullen; and on benefits and employment matters by London partner Catherine Drinnan, Paris partner Matthias Rubner, Munich partner Tobias Leder, and San Francisco partner Julie Crisp, with associates James Robinson, Adam Ray, Romain Nairi, and Agathe Flandre; on real estate matters by London partner Quentin Gwyer with associate Danni Davies; and on environmental matters by London partner Paul Davies with counsel Michael Green. Additional advice on the transaction was provided by counsels Rachel Alpert and Daniel Smith, and associates Jason Despain, Yasmina Vaziri, and Marcus Tomlison.

Latham advises Morpheus Space in its series seed funding round

Morpheus Space has announced the closing of its first private funding round, led by Vsquared Ventures. Others in the round include Lavrock Ventures, Airbus Ventures, In-Q-Tel, Pallas Ventures and Techstars.

The space tech start-up was founded in 2018 as a spin-off from the chair of space systems of Technical University of Dresden. The company has created the ground-breaking Spacecraft Electric Propulsion Systems, NanoFEEP, which is the smallest and most efficient satellite propulsion system that provides in-orbit mobility for the widest range of satellite sizes.

“We are proud to have had Latham’s support on this milestone transaction for Morpheus,” said Daniel Bock, Co-Founder and CEO. “For every legal discipline we needed in the U.S. and Germany, they provided an almost instantaneous solution to help make this cutting edge tech transaction an intercontinental success.”

Latham & Watkins LLP represents Morpheus Space in the transaction. The emerging companies team was led by Los Angeles associate David Pendergast, with assistance from Los Angeles associate Zach Gray. The German corporate team was led by Hamburg partner Christoph Engeler, with associate Daniel Kreutzmann. Advice was also provide on intellectual property matters by Frankfurt partner Susan Kempe-Mueller and Los Angeles partner Ghaith Mahmood; on employment matters by Munich associate Kristina Steckermeier; on German public R&D grant matters by Frankfurt associate Alexander Wilhelm; and on regulatory matters by Hamburg associate Niklas Bruggermann.

Latham began representing Morpheus Space nearly a year ago, and helped the founders Daniel and Istvan Lorincz navigate a variety of legal questions on both sides of the Atlantic, culminating in a very exciting deal that will help the Company unlock the next phase of growth in its mission.

Kirkland advises Gordon Brothers on €100M ABL facility

Kirkland & Ellis has advised Gordon Brothers on an Asset Based Lending (ABL) facility in the amount of €100 million to a leading German hypermarket store chain. B. Riley Financial is participating in the loan as a minority partner.

The advice provided by a team of Kirkland lawyers from Munich and London included the comprehensive structuring of the transaction from a financial, contract and insolvency law perspective as well as its documentation and implementation.

Gordon Brothers is a global consultancy and investment company which provides customised liquidity solutions in the retail, commercial and industrial, and finance sectors.

The Kirkland team was led by Munich-based restructuring partner Sacha Lürken, debt finance partner Dr Alexander M.H. Längsfeld and restructuring partner Dr Bernd Meyer-Löwy; and also included London-based debt finance partners Evgeny Zborovsky and Karen Ford and associates Oliver Trotman and Adebayo Lanlokun.

Baker McKenzie forms Global Task Force on Racial and Ethnic Diversity

Leading global law firm Baker McKenzie announces new Global Race & Ethnicity Task Force which will work across the Firm’s 77 offices in 46 countries and in concert with our efforts at a regional level, to help implement and operationalise programs to advance racial and ethnic diversity.

The Task Force will be led by Miguel Noyola based in our Chicago office and members include Claudia Benavides (Bogota), Anna Brown (New York), Sunny Mann (London), Anna Mello (Rio de Janeiro), Yoshiaki Muto (Tokyo), Veleka Peeples-Dyer (Washington DC), Joyce Smith (San Francisco), Kate Stonestreet (London) and Constanze Ulmer-Eilfort (Munich).

The Task Force will oversee allyship and anti-racism training; sponsorship of our Black colleagues and members of other underrepresented racial and ethnic groups; and a review of our recruitment and client programs. This work will also closely be connected to our program on social mobility and diverse pipeline efforts and will help progress other important D&I programs.

Constanze Ulmer-Eilfort, Chair of the Firm’s Global Diversity & Inclusion Committee commented: “Advancing Racial and Ethnic diversity has always been one of our most important D&I priorities and this Task Force will strive to effect change and to really make a difference. As a Firm we are proud of what we have achieved together on gender diversity and on LGBT+ inclusion. We can and must also make similar progress on racial and ethnic diversity.

“Change starts from within, and we must all embrace the need for change together. We are encouraging everyone to learn, reflect and work to become a more active ally. We need to open our minds and our hearts to the experiences of our Black community — there is so much for us to learn, to understand, and to reflect upon before change happens.”

If you would like to find out more information, please visit https://www.bakermckenzie.com/en/

Pinsent Masons hires real estate regulatory and investment partner

Multinational law firm Pinsent Masons has hired real estate funds regulatory and investment specialist Dorothee Atwell into its Frankfurt office.

Dorothee is a funds regulatory lawyer advising on regulatory aspects of transactions and fund formation to institutional investment managers investing into real estate in Germany and abroad.

Dorothee joins from investment company Universal-Investment where she developed innovative structures for complex real estate transactions working closely with asset managers and custodians. Dorothee is also admitted to the bar in the UK and United States.

Dr. Wolfram Pätzold, Head of Real Estate Germany at Pinsent Masons said, “Dorothee is a recognised expert in real estate investment and regulatory law and will be a valuable addition to the development of the firm’s real estate offering in Germany.”

Rainer Kreifels, Head of Germany and member of the global board at Pinsent Masons said, “Dorothee’s appointment follows our continued commitment to expand the firm’s Frankfurt office which opened in 2019. This is particularly true of our real estate and financial services teams following the appointment of Antony Morton in May. Dorothee’s expertise spans across both real estate and financial services sectors and is a natural fit for the firm.”

The growth of Pinsent Masons in Germany underlines the success of its sector focus approach. Last year, its German real estate practice doubled in size. With the addition of Dr. Tobias Nuß and Katharina von Hermanni joining the partnership in 2019 and additional associates joining the team, the German real estate practice now comprises 13 lawyers in Munich, Frankfurt and Düsseldorf. The German Financial Services Team now comprises 8 lawyers in Munich and Frankfurt.

Pinsent Masons is one of the top 50 law firms in Germany. With three locations in Germany (Düsseldorf, Frankfurt and Munich) the firm focusses on the technology, life sciences, energy, real estate and financial services sectors.

Clifford Chance advises Shuanghuan on latest acquisition

Clifford Chance has advised China-based auto component producer Zhejiang Shuanghuan Driveline Machinery Co., Ltd (Shuanghuan) on the acquisition of a majority share in German gearbox and auto component manufacturer Schmiedetechnik Plettenberg GmbH & Co. KG and Werkzeugtechnik Plettenberg GmbH & Co. KG. German VVP Vermögensverwaltung Plettenberg GmbH & Co. KG is selling its 81 percent of its shares in both companies. Upon closing of the transaction the Chinese investor will inject further capital into the group and thereby increase its shareholding.

Schmiedetechnik Plettenberg and Werkzeugtechnik Plettenberg are engaged in R&D, manufacturing, and sale of metal mold and precision molding parts for the automotive and construction machinery sectors.

Zhejiang Shuanghuan Driveline Co., Ltd., a listed company based in Hangzhou, China, produces and sells gears and shafts. The company’s products are widely used in the fields of inter alia cars, electric cars, high-speed rail traffic, electric tools and industrial robots. By acquiring the German gear manufacturers, Shuanghuan is accelerating its international development and further expanding its European business.

The Clifford Chance team advising Shuanghuan on the acquisition comprised partner Nicole Englisch and associate Sebastian Lahner, senior associate Nico Basener, associate Annika Ascher (all Corporate/M&A, Munich), counsel Dimitri Slobodenjuk and senior associate Caroline Scholke (both Antitrust, Dusseldorf), partner Claudia Milbradt, counsel Florian Reiling and senior associate Nicolas Hohn-Hein (all IP, Düsseldorf), partner Ines Keitel, senior associate Christopher Fischer (both Frankfurt) and associate Mario Maier (Munich, all Employment), partner Mathias Elspaß, senior associate Philipp Büsch and associate Felix Feldmann (all Corporate/Public Law, Düsseldorf), partner Christian Keilich (Frankfurt), counsel Dennis Blechinger and foreign lawyer Marion Dalvai (both Munich, all Real Estate), partner Barbara Mayer-Trautmann and senior associate Jennifer Seipelt (both Acquisition Finance, Munich) and partner Olaf Mertgen and counsel Dominik Engl (both Tax, Frankfurt) as well as a team from the Clifford Chance office in Shanghai lead by partner Glen Ma and including counsel Richard Cui (both Corporate/M&A).