Shearman & Sterling Advises on the Lotus Technology DeSPAC

The business combination values Lotus Tech at $5.5 billion on a pre-money equity value basis. LCAA is a special purpose acquisition company formed by affiliates of L Catterton. Lotus Tech, headquartered in Wuhan, China, is a battery electric vehicle maker that designs, develops and sells luxury lifestyle vehicles under the iconic British brand “Lotus”.

The Shearman & Sterling team advising Deutsche Bank AG and Santander was led by Capital Markets partners Ilir Mujalovic, Harald Halbhuber, Kyungwon (Won) Lee and Wanda Woo, Tax partner Laurence Crouch, IP Transactional partner JB Betker, Private Equity partner Alain Dermarkar, Litigation partner Daniel Lewis, Capital Markets counsel John Menke, Capital Markets associates Rami Marginean, Ilya Mamin and Stella Sun, Tax associates Austin Jones and Michael Buiteweg, and IP Transactional associate Austin Grossfeld.