Mourant advises L Catterton Asia Acquisition Corp on business combination with Lotus Technology

Mourant, a law firm-led professional services business, has advised L Catterton Asia Acquisition Corp (LCAA) on its business combination with Lotus Technology Inc. (Lotus Technology), a leading global luxury electric vehicle maker.

LCAA is special purpose acquisition company formed by affiliates of L Catterton, a leading global consumer-focused investment firm.

The business combination was finalised on 22 February 2024, and Lotus Technology began trading on NASDAQ the following day.

Lotus Technology is committed to transforming the brand into a fully electric, intelligent, and sustainable luxury mobility provider, and is currently on track to become the first traditional luxury automotive brand to achieve a 100 per cent electric product portfolio by 2027.

On the transaction, the Mourant Investment Funds team worked alongside lead counsel Kirkland & Ellis, who acted as US legal counsel to LCAA.

The Mourant team who worked on the deal, based in the firm's London, Cayman Islands and Hong Kong offices, was led by Investment Funds Global Practice Leader Alex Last, alongside Chris Nixon (partner), Mali Bongers (senior associate) and Chantal Martin (associate).

The expertise of the Mourant Investment Funds practice, which spans its Jersey, Guernsey, Cayman Islands and Asia offices, is identified in leading independent legal directories Chambers and Partners and Legal 500.

The firm is also consistently recognised as leaders in the funds field by Monterey Insight – an independent fund research company which provides comprehensive statistical analysis of the Jersey, Guernsey, Ireland, Luxembourg and UK fund industries. In the latest Monterey Jersey Fund Report, Mourant maintained the top spot as leading funds legal adviser.