Together with the global law firms Sullivan & Cromwell and Linklaters, Schellenberg Wittmer has won the "Matter of the Year" award at the Global Competition Review's 2021 Awards for its work in Switzerland. The team was recognized for its role as Swiss counsel to Fiat-Chrysler Automobiles in the global merger of PSA Group and Fiat Chrysler Automobiles.
The deal has been recognized by the GCR for creating the world’s third-largest automaker by revenue, the fact that it required merger filings in 22 jurisdictions, - although lawyers for the companies secured all the necessary clearances without making a divestiture.
The merger has also been noted by the GCE jury for the European Commission’s in-depth probe examining the deal’s impact on the light commercial vehicles sector in 15 EU member states and for the agency approving the deal without issuing a statement of objections after PSA entered into a binding agreement with Toyota for the supply and sale of minivans until 2030. Further recognition is noted as Enforcers in India, Turkey, Ukraine and Chile all cleared the deal in Phase II, with only the latter requiring commitments. The tie-up also secured unconditional clearance in Brazil, despite the internal tribunal of the Administrative Council for Economic Defence challenging its General Superintendency’s recommendation that the agency approves the deal.
Congratulations to David Mamane who led the team at Schellenberg Wittmer on this deal, and to Amalie Wijesundera and Eva Peter who acted as key team members.
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