Jie Min

The Firm recently represented Gogoro Inc. (“Gogoro,” Nasdaq: GGR) in the private investment in public equity (PIPE) by Castrol Holdings International Limited (“Castrol”).~~On June 24, 2024, Gogoro and Castrol signed a subscription agreement, pursuant to which Gogoro issued 16,887,328 ordinary shares to Castrol for an aggregate purchase price of US$25 million. Concurrently with the share issuance, Gogoro granted Castrol certain put option, information and registration rights. The subscription agreement also contemplates that upon the consummation of certain strategic partnership between Gogoro and Castrol, the parties will enter into a note purchase agreement pursuant to which Gogoro will issue to Castrol a convertible note in the principal amount of US$25 million.~~Gogoro is a global technology leader in vehicle design and electric propulsion, smart battery design, battery swapping, and advanced cloud services that utilize artificial intelligence to manage battery charging and availability. Castrol is a global leader in lubricants and part of the bp group.~~The Simpson Thacher team includes Yi Gao, Yang Wang, Shuting Lu and Haixuan Yang (M&A); and Keng-Wen Lin (Capital Markets).

Jan 7

1 min

The Firm recently represented Gogoro Inc. (“Gogoro,” Nasdaq: GGR) in the US$50 million private investment in public equity (“PIPE”) by Gold Sino Assets Limited (“Gold Sino”). In addition to 32,516,095 ordinary shares of Gogoro issued to Gold Sino at closing of the transaction, Gold Sino also acquired a warrant to purchase 10,838,698 additional ordinary shares of Gogoro. The transaction was closed on June 7, 2024 and the proceeds of the transaction will be used to continue Gogoro's growth and development in Taiwan and international expansion markets.~~Headquartered in Taiwan, Gogoro is an innovative company focusing on utilizing cutting-edge technologies to transform urban transportation and enable the mass market shift to clean sustainable two-wheel transportation. Gogoro battery swapping provides smart, convenient and accessible portable power using industry-leading battery swapping and Smartscooter vehicles that address the needs of urban residents in Asia and other regions with densely populated cities.~~The Simpson Thacher team includes Yi Gao, Yang Wang, Shuting Lu, Keng-Wen Lin and Haixuan Yang (Corporate).

Jun 13

1 min

The Firm is representing PAG in its announced joint investment, together with affiliates of CITIC Capital, Ares Management, the Abu Dhabi Investment Authority and Mubadala Investment Company, of approximately US$8.3 billion for a 60% stake in Newland Commercial Management (“Newland”). This transaction is the largest international private equity investment in China in the past five years.~~PAG is a leading private equity firm focused on Asia-Pacific. Newland is a newly formed holding company of Zhuhai Wanda Commercial Management Group Co., Ltd., the world’s largest shopping mall management company which currently manages 496 large-scale shopping malls in 230 cities across China with about 70 million square meters of floor space under management, serving more than 100,000 commercial tenants.~~The Simpson Thacher team includes Yang Wang, Amy Liu and Boli Chen.

Nov 4

1 min

The Firm is representing XPENG Inc. (“XPENG,” NYSE: XPEV and HKEX: 9868.HK) in its announced strategic minority investment by the Volkswagen Group, pursuant to which the Volkswagen Group will acquire an approximately 4.99% minority stake of XPENG for a total consideration of approximately US$700 million, subject to customary closing conditions. XPENG and Volkswagen Group also entered into a strategic technical collaboration, in connection with which XPENG and the Volkswagen Group will jointly develop two B-class battery electric vehicles models.~~XPENG is a leading Chinese Smart EV company that designs, develops, manufactures and markets Smart EVs that appeal to the large and growing base of technology-savvy middle-class consumers. The Volkswagen Group is one of the world’s leading automobile manufacturers.~~The Simpson Thacher team includes Yang Wang, Amy Liu and Boli Chen (M&A); Yi Gao (Capital Markets); Jennifer Nadborny (Public Company Advisory Practice); David Yun (HK Corporate); Lori E. Lesser and Kate Mirino (IP); and Ross Ferguson (Antitrust).

Jul 28

1 min

Simpson Thacher was recognized in multiple categories at the 2024 Legal 500 China Awards. The Firm was honored as “Private Equity Foreign Law Firm of the Year,” and Corporate Partner Yang Wang was named “Foreign Firm Leading Lawyer of the Year.” In addition, the Firm’s work advising PAG in its $8.3 billion joint investment in Newland Commercial Management was recognized as “Foreign Firm Private Equity Deal of the Year.”~~The Legal 500 China Awards recognize “the leading firms, lawyers, as well as in-house counsels and teams who have contributed immensely to China’s fast-growing and complex legal market.” To view the full list of winners, please click here.

Dec 12

1 min