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Automotive

Shearman & Sterling’s deep institutional knowledge of the automotive sector stems from its decades-long relationships with major automobile manufacturers spanning three continents. Our multidisciplinary team of attorneys in the United States, Europe, and Asia represent automobile manufacturers, as well as automotive parts and components suppliers.

We have been involved in many “firsts” and ground breaking transactions in the industry. We participated in the Daimler Benz AG listing on the New York Stock Exchange—the first US listing of a German company—and remain front and center in transactions involving automobile manufacturers in Germany. We also advised on the creation of the dual class stock when Ford Motor Company went public more than 60 years ago and remain the company's underwriters' counsel today.

Shearman & Sterling draws on its decades of automotive experience to deliver the highest quality services to our clients in matters affecting the automotive industry, including: 

  • Acquisitions
  • Dispositions
  • Joint Ventures
  • Debt and Equity Offerings
  • IPOs
  • Corporate Governance
  • Litigation
  • Antitrust and Competition
  • Safeguarding Intellectual Property
  • Tax
  • Restructurings
  • Environmental
  • Regulatory Compliance
  • Liability Management Transactions 

Featured Matters

  • Daimler AG Appellate Victory: In Ibormeith IP v. Mercedes-Benz USA and Daimler AG the US Court of Appeals for the Federal Circuit affirmed the district court’s grant of summary judgment of patent invalidity for the Mercedes-Benz Attention Assist driver drowsiness detection system in favor of Daimler AG and Mercedes-Benz USA LLC.
  • American Axle Manufacturing, Inc.: Represented American Axle Manufacturing, Inc., along with its parent and subsidiary guarantors, in $400 million notes offering and concurrent debt tender offer and consent solicitation.
  • Ford Motor Company: Represented the underwriters in connection with a US$2 billion registered shelf takedown of investment grade notes by Ford Motor Company.
  • Toyota $11.5 Billion Cross-border Financing: Represented BNP Paribas Securities Corp., Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated and The Bank of Tokyo-Mitsubishi UFJ, Ltd. as joint lead arrangers and joint book managers in connection with a $11.5 billion financing for Toyota Motor Credit Corporation and affiliates.
  • Jaguar Land Rover PLC High Yield Bond Offering: Represented Jaguar Land Rover PLC on its offering of £500 million fixed rate high yield bonds due 2020.
  • Allianz/Volkswagen Joint Venture: Represented Allianz SE in the formation of an automobile insurance joint venture with Volkswagen Financial Services AG.
  • Continental AG: Represented Continental AG before the European Commission and coordinated filings in a number of jurisdictions outside the EU regarding a joint venture with Korean partner SK Innovation for the development and production of lithium ion-battery modules for hybrid and electric passenger vehicles. The joint venture was unconditionally cleared.
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