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Freshfields advises Aston Martin on strategic supply agreement with Lucid

Freshfields Bruckhaus Deringer (‘Freshfields’) is advising its long-standing client Aston Martin Lagonda Global Holdings plc (‘Aston Martin’), a FTSE 250 listed British luxury car manufacturer, on its entry into a strategic supply agreement with Lucid Group, Inc. (‘Lucid’), a world leader in the design and manufacture of advanced electric powertrains and battery systems, to create industry-leading ultra-luxury high performance Aston Martin battery electric vehicles.

Under the terms of an Implementation Agreement between Aston Martin and Lucid, subject to receiving shareholder approval and the satisfaction of certain regulatory and other conditions, Aston Martin has agreed to issue new shares and make phased cash payments to Lucid with the aggregate value of the shares issued and the cash payments totalling approximately $232m.

The Freshfields team, led by partner Giles Pratt and senior associate Egor Marisin, includes senior associate Danny Spencer and associates Cameron Skinner, Isabella Coutts, Jake Allingan and Maxwell Smith, and is also supported by partner Chris Mort.