Kensington Capital Acquisition Corp. V and Arrival Merge with Legal Counsel from Linklaters

Kensington Capital Acquisition Corp. V and Arrival Merge with Legal Counsel from Linklaters

A Linklaters team spanning the firm's offices in New York, Luxembourg, and London and operating across borders provided advice to Arrival, which has invented a novel technique for the design and production of electric vehicles (EVs).

The advice was on the company's definitive agreement for a business combination with Kensington Capital Acquisition Corp. V, a special-purpose acquisition company.

Established in 2015, Arrival is a joint stock company limited by shares governed by Luxembourgish law. It aims to transform the Class 4 electric vehicle (EV) segment. The XL Van produced by Arrival is designed specifically for the high-margin last-mile delivery market, which the company believes is currently overlooked by major original equipment manufacturers (OEMs).

In the past few months, the company has concentrated on its product strategy in the United States and intends to invest the anticipated proceeds from the deal to manufacture its XL Van at its factory in Charlotte, North Carolina.

After the transaction is completed, the merged company will retain the name "Arrival" and it is anticipated that its ordinary shares will continue to be traded on Nasdaq with the ticker symbol "ARVL".

The Linklaters team was headed by Partners Jeff Cohen (New York, Capital Markets), Manfred Müller (Luxembourg, Corporate), Pierre-Emmanuel Perais (New York, Corporate), and Mike Bienenfeld (London, Corporate); Counsel Alex Parkhouse (London, Corporate); Senior Associate Andrew Kummer (New York, Capital Markets); and Associates Jihe Kim (New York, Corporate) and Annie Caccimelio (London, Corporate).

Linklaters also provided counsel to Arrival when it went public in 2021 by merging with CIIG Merger Corp., an American special purpose acquisition company (SPAC).