Sidley represented Volkswagen AG in its proposed co-investment with Ford Motor Company in autonomous vehicle technology company, Argo AI, valuing Argo at US$7.1 billion. This co-investment expands the two automakers’ global alliance that was announced in January 2019 to tackle the autonomous vehicle sector.
The Sidley team, which hailed from the firm’s offices in Palo Alto, Munich, London, Chicago, New York and Washington, D.C., handled Corporate; Employee Benefits and Executive Compensation; Labor and Employment; Tax, Transportation and Real Estate matters. Freshfields was co-counsel to Volkswagen focusing on IP and Antitrust.
Martin Wellington (Palo Alto) and Kolja von Bismarck (Munich) jointly led the transaction team, which included partners Dr. Bjorn Holland (Munich) and James Wood (London) and associates Ian Helmuth, Jason Nichol, Leigh Rorick (Chicago) and Thomas Komanek and Jennifer Geng (Munich). The team also included Transportation Regulatory partner Matthew Warren and associate Marc Korman (Washington, D.C.); Tax partner Suresh Advani and associate Andrei Pinchuk (Chicago); Employee Benefits and Executive Compensation partner Lauren Gallagher and associate Karim Pirani (Chicago); Labor, Employment and Immigration associates Teresa Reuter (Chicago) and Vera Iwankiw (New York); and Real Estate partner Elizabeth McCloy and associate Matt Abu-Taleb (Chicago).