Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Volkswagen AG (‘VW’) on the complex re-negotiation of its three-way joint venture and distribution operations for some of its leading brands of passenger vehicles in Saudi Arabia, including Audi, Porsche and VW.
 
The renegotiations have led to a change in VW’s business model in the Kingdom with the termination of one of the existing joint venture parties and the granting of exclusive distribution rights for the aforementioned brands to only one Saudi partner, which will hold the exclusive import and distribution rights for an agreed period of time. 
 
Saudi Arabia-based senior associate Walid Salib led the Freshfields team with support from Saudi Arabia-based corporate partner Fares Al Hejailan.