Firm Advises Daimler in Equity Collar Deal for Its Tesla Stake
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Hughes Hubbard helped Daimler AG, the maker of Mercedes-Benz cars, secure its investment in Tesla Motors with a three-year equity collar deal.
Under the terms of the deal that was completed on Dec. 20, 2013, Daimler, which holds a 4.3 percent stake in the California-based electric-car maker, protected itself against signi cant uctuations in the price of Tesla's stock for the next three years.
Hughes Hubbard represented Daimler in its initial investment in Tesla and in subsequent equity-raising rounds by Tesla. Tesla, which developed the rst highway-capable electric vehicle in North America and Europe, makes electric vehicles with exceptional design, performance and e ciency. Tesla develops the complete drivetrain for the Mercedes-Benz B-Class Electric Drive, which is expected to be launched later this year.
Andrew Fowler, Gary Simon and Arinze Ike represented Daimler.
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Andrew F. Fowler Gary J. Simon
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