news
The Vinfast booth is seen at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 14, 2022. REUTERS/David 'Dee' Delgado

 

Davis Polk & Wardwell has advised special purpose acquisition company (SPAC) Black Spade Acquisition on its merger with Vietnamese electric automaker VinFast, which was represented by Latham & Watkins.

VinFast will list on the New York Stock Exchange through the merger. The new entity will have an enterprise value of approximately $27 billion and an equity value of $23 billion, reported Reuters, with the transaction expected to close in the second half of 2023.

Reuters added that VinFast, which was founded in 2017, claims to have almost 55,000 orders globally and can churn out 300,000 EVs per year. Black Spade Acquisition is a Hong Kong-based SPAC that listed on the NYSE in July 2021.

The Davis Polk team was led by partner James C. Lin, with support from partners Patrick E. Sigmon, Frank J. Azzopardi, Adam Kaminsky and Paul D. Marquardt.

TO CONTACT EDITORIAL TEAM, PLEASE EMAIL ALBEDITOR@THOMSONREUTERS.COM

Related Articles

India: AZB, Anagram advise on $530 mln microfinance merger

Mumbai-headquartered law firm AZB & Partners has advised India's AU Small Finance Bank on its 44.11-billion-rupee ($529.8 million) acquisition of peer Fincare Small Finance Bank, which was represented by Anagram Partners.

Shearman, AMT, White & Case, MHM act as Japan’s Benesse goes private for $1.78 bln

by Mari Iwata |

Shearman & Sterling and Anderson Mori & Tomotsune are advising Japanese educational services provider Benesse Holdings on a 270-billion-yen ($1.78 billion) management buyout (MBO) plan proposed by Swedish investment house EQT AB Group, represented by White & Case. Mori Hamada & Matsumoto act for the all stakeholders on this MBO scheme.

Slaughters, Skadden guide $1.8 bln acquisition of Coke Philippines

by Mari Iwata |

Slaughter and May, Villaraza & Angangco, Skadden, Arps, Slate, Meagher & Flom, SyCip Salazar Hernandez & Gatmaitan have advised the buyers on a $1.8 billion acquisition of Coca-Cola Beverages Philippines (CCBPI) from Coca-Cola.