Schweppe Steers QIA's Acquisition of Sauber Stake
Deal News | Dec 09, 2024 | Legal Community MENA
The Qatar Investment Authority (QIA) has acquired a minority stake in Sauber, a Formula 1 team owned by Audi. This acquisition involved the expertise of senior in-house counsel Michael Schweppe, who advised QIA on non-Swiss law aspects of the transaction. Additionally, QIA engaged NKF, a Swiss law firm, to handle the Swiss legal components of the deal. The NKF team was led by corporate/M&A partner Daniel Bono and included partners, senior associates, and associates from various legal fields such as corporate/M&A, antitrust & competition, employment, and tax. This collaboration enabled QIA to successfully navigate the complexities of the acquisition, signifying a strategic move into the high-stakes world of Formula 1 racing through Sauber.
Sectors
- Private Equity
- Automotive
- Law
- Sports
Geography
- Qatar – Home of the Qatar Investment Authority, the acquiring entity in the transaction.
- Switzerland – Where NKF, the legal advisors for the Swiss law aspects, are based and relevant to the Sauber team.
Industry
- Private Equity – Involves investment funds that directly invest in companies or engage in buyouts, such as QIA's acquisition of a stake in Sauber.
- Automotive – Relevant due to the focus on Sauber, a Formula 1 team, implying involvement in the sports automotive industry.
- Law – Important due to the legal advisory roles played by NKF and QIA's in-house counsel in the transaction.
- Sports – Reflects the focus on Sauber’s involvement in Formula 1, a prominent global sport.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Qatar Investment Authority (QIA) | Acquirer | Company | A sovereign wealth fund responsible for QIA's strategic investments and acquisitions like the Sauber stake. |
| Sauber | Target Company | Company | A Formula 1 racing team owned by Audi, subject to QIA's minority stake acquisition. |
| Michael Schweppe | In-house Counsel | Person | Advised QIA on the non-Swiss legal aspects of the acquisition. |
| NKF (Niederer Kraft Frey) | Legal Advisor | Company | Swiss law firm advising QIA on all Swiss law-related aspects of the deal. |
| Audi | Owner | Company | Current owner of Sauber, the Formula 1 team involved in the transaction. |