Ashurst advised Groupe PSA (Paris:UG), a leading French car manufacturer, on an investment agreement with the Namibian government facilitating a joint venture between Groupe PSA and Namibia Development Corporation to assemble Opel and Peugeot vehicles in Walvis Bay, Namibia.
Assembly will start in the second half of 2018 with an annual targeted volume of 5,000 units by 2020 to meet demand in countries in the Southern African Custom Union which includes Namibia, South Africa, Botswana, Lesotho and Swaziland. The first vehicles to be assembled will be the Opel Grandland X and the Peugeot 3008, with additional products to follow to meet customer demand.
The Ashurst team was led by corporate partner Yann Alix (picture), assisted by associates Fiona Tsung and Claudia Cicone.
Law Firms: Ashurst;
Clients: PSA Peugeot Citroën;