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Freshfields advises Volkswagen AG on its three-way joint venture for the distribution of its flagship brands in Saudi Arabia

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. 
Notes to editors:
About Freshfields Bruckhaus Deringer LLP
Freshfields Bruckhaus Deringer LLP is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on ground-breaking and business-critical mandates. Our 2,800 plus lawyers deliver results worldwide through our own offices and alongside leading local firms. Our commitment, local and multi-national expertise and business know-how means our clients rely on us when it matters most.

The Freshfields team was led by: