news

Skadden, Arps, Slate, Meagher & Flom has advised Chinese auto tech startup ECARX Holdings on its $3.82 billion merger with blank-check firm COVA Acquisition, which was advised by Orrick, Herrington & Sutcliffe.

Founded in 2017, the Wuhan-headquartered ECARX focuses on technology used in car chips, high-definition maps and smart vehicles, said Reuters.

The deal with COVA includes a $45 million investment from mobility tech company Geely, lidar sensor maker Luminar Technologies and automotive company Lotus Technology, Reuters added.

The Skadden team was led by partners Peter Huang and Shu Du, supported by partners Bruce Goldner and Victor Hollender. The Orrick team was led by partners Albert Vanderlaan and Hari Raman and included partners Jeff Zhang, Shelley Zhang, Peter Elias, Sarah Schaedler, Steven Malvey, Hannon Yavorsky, and Michael Wiesner.

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

Related Articles

Deals

Skadden advises Cemex on $650 mln Philippines divestment

by Nimitt Dixit |

U.S. law firm Skadden, Arps, Slate, Meagher & Flom has advised Mexico-based multinational building materials company Cemex on the sale of its operations and assets in the Philippines to Dacon Corporation, DMCI Holdings, and Seminara Mining and Power Corporation.

Deals

Skadden, AMT, MHM, Davis Polk advise on Trial Holding’s $258 mln Japan IPO

by Nimitt Dixit |

Skadden, Arps, Slate, Meagher & Flom and Anderson Mori & Tomotsune have advised Japanese discount-store chain operator Trial Holdings on its $258 million initial public offering on the Tokyo Stock Exchange (TSE), the largest IPO of the year so far.

Deals

Skadden, Hogan Lovells guide $1 bln TDCX take-private deal

by Nimitt Dixit |

U.S. law firm Skadden, Arps, Slate, Meagher & Flom has advised billionaire Laurent Junique, the founder and CEO of TDCX, in his move to take the company private at an equity valuation of approximately $1.037 billion.