M&A Hughes Hubbard spent 2023 leading innovative mergers and acquisitions deals in industries as diverse as hospitality, esports, medical technology and zero-emission vehicles.
Renewable Energy Joint Venture for Daimler
Hughes Hubbard and Daimler Truck’s inhouse legal team advised Daimler Truck, one of the world’s largest commercial vehicle manufacturers, in a transaction establishing a $650 million joint venture with BlackRock Renewable Power and NextEra Energy Resources known as Greenlane™ to design, develop, install and operate a U.S. nationwide, high-performance zero-emission public charging and hydrogen fueling network for medium- and heavy-duty battery-electric and hydrogen fuel cell vehicles.
MSGE and Tao in Sale to Mohari Hospitality
Hughes Hubbard represented Madison Square Garden Entertainment Corp. and TAO Group Hospitality in the sale of Tao Group Hospitality to global investment company Mohari Hospitality.
RM Sotheby’s Joint Venture with Motorsport Network
Hughes Hubbard represented RM Sotheby's in the negotiation for the formation of a joint venture with Motorsport Network. The new joint venture, Sotheby's Motorsport, is an online auction platform for luxury cars.
Advance Sale of 1010data
Hughes Hubbard acted as legal counsel to media company Advance Publications Inc. – whose portfolio includes Vogue, the New Yorker, Advance Local, Stage Entertainment and The IRONMAN – and its portfolio company 1010data, a leading provider of enterprise analytics, in the sale of 1010data to SymphonyAI.
MSG’s Combination of Counter Logic and NRG
Hughes Hubbard advised Madison Square Garden Sports Corp. on the combination of its esports business Counter Logic Gaming with professional gaming and entertainment company NRG.
Kensington’s Deal with Arrival
Hughes Hubbard advised special purpose acquisition company Kensington Capital Acquisition Corp. V in its proposed merger with electric vehicle manufacturer Arrival. The deal – announced on April 6 – was valued at $524 million. The combined company will remain listed on Nasdaq under the ticker symbol ARVL.
Cyclerion’s Medicine Sale
Hughes Hubbard represented Cyclerion Therapeutics in the company’s sale of the rights to two drugs used to treat mitochondrial encephalopathy, lactic acidosis, and stroke-like episodes syndrome (MELAS) to a newly-formed company.
AURELIUS Acquires HAECO Cabin Solutions
Hughes Hubbard advised globally active alternative investment firm AURELIUS on the acquisition by its portfolio company, ZIM Aircraft Seating, of HAECO Cabin Solutions. The acquisition will make ZIM the fourth largest aircraft seat vendor in the world.
JOST Acquires Crenlo do Brasil
Hughes Hubbard represented JOST, a leading global manufacturer of modules and components for commercial vehicles, in its acquisition of Crenlo do Brasil Engenharia de Cabines from Angeles Equity Partners. Through the acquisition, JOST will gain access to the Brazilian off-highway and agricultural machinery market, one of the biggest agricultural markets worldwide.
DASI’s 50% Sale to Marubeni Corporation
Hughes Hubbard represented leading global aircraft inventory support provider DASI in the sale of 50% of the outstanding ownership of DASI, LLC to Marubeni Corporation – a publicly traded Japanese company that is one of the world's largest trading and investment conglomerates – alongside related joint venture arrangements. The transaction saw minority investor Fortress Investment Group exit its investment in DASI.
CF Acquisition VIII Merger with XBP
Hughes Hubbard represented CF Acquisition Corp. VIII, a special purpose acquisition company sponsored by Cantor Fitzgerald, in its merger with XBP Europe, Inc., the European business of Exela Technologies Inc.
GDA Finances Majority Stake in Access Medical Laboratories
Hughes Hubbard advised Mexico's Grupo de Diagnóstico Aries in the financing of its acquisition of a majority stake in Florida-based Access Medical Laboratories.