GIC’s Acquisition of a Stake in Global Location Mapping Company

Paul, Weiss is representing GIC, Singapore’s sovereign wealth fund, in its proposed purchase of a minority investment in the open platform company HERE from German carmakers BMW, Daimler and AUDI.

GIC is jointly acquiring the stake along with strategic partners NavInfo Co., Ltd, a leading provider of digital maps and location services in China, and Tencent Holdings Limited, a leading provider of diversified technology internet services in China. The investors, who will acquire a ten percent equity stake, plan to partner with HERE to develop and offer best-in-class location services for the Chinese market. The transaction is expected to be completed in the first half of 2017, subject to regulatory approvals.

The Paul, Weiss team included corporate partner Betty Yap (Picture).

 

Involved fees earner: Betty Yap – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: GIC Pte. Ltd.;

 

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Author: Michael Patrini