Skadden is advising long-term client NIO Inc., a pioneer in China’s premium smart electric vehicle market, on the US$ 2.2 billion equity investment by CYVN Holdings LLC, an investment vehicle majority-owned by the government of Abu Dhabi and strategically focused on advanced and smart mobility. Following the completion of this transaction, CYVN will beneficially own approximately 20.1% of NIO’s total issued and outstanding shares. NIO and CYVN will continue to work jointly to pursue strategic and technology collaborations in international markets.
When this deal closes, it will be the largest strategic investment from a Middle Eastern investor into a Chinese EV company to date. Skadden also advised NIO in the US$ 738.5 million strategic equity investment by CYVN into NIO in July 2023.
The Skadden team was led by Corporate Partner Yuting Wu (Shanghai), with Asia Pacific Counsel Flora Lu (Shanghai) and Associates Derek Li (Hong Kong) and Wei Luo (Shanghai). Partners advising on CFIUS matters were Michael Leiter (Washington D.C.) and Brian Egan (Washington D.C.), and Partner Andrew Foster (Hong Kong) and Asia Pacific Counsel Julia Zhu (Shanghai) advised on transaction-related regulatory matters.
