Gide acts as lead counsel to Renault on its recently announced partnership with Brilliance China Automotive Holdings Limited (“CBA”), which will enable Renault to enter the growing light commercial vehicle (“LCV”) market in China.
Under a binding framework cooperation agreement signed by the two companies on 5 July 2017 (“FCA”), Renault will acquire from CBA a 49% stake in Shenyang Brilliance JinBei Automobile Co., Ltd., a top player in the LCV industry in China. The resulting joint venture company will manufacture and sell LCVs using Renault’s product and technological know-how.
Gide is advising Renault on the PRC law aspects of the project, including on regulatory issues, due diligence of the target company, and drafting and negotiation of the binding FCA. The Gide team is led by partner Guo Min with the assistance of counsel Ronan Diot and associate Lea Han, working in close collaboration with the Renault Legal Department team led by Sean Caley, Managing Counsel – Asia Pacific. Gide’s preferred Hong Kong advisor Howse Williams Bowers is providing Hong Kong law advice.
Shearman & Sterling and Jun He advised the sellers.