Skadden, Arps, Slate, Meagher & Flom and Akin Gump Strauss Hauer & Feld are advising on Abu Dhabi government-backed investment vehicle CYVN Holdings’ $738.5 million investment in New York Stock Exchange-listed Chinese electric vehicle maker NIO Inc. 

Under the deal, CYVN will acquire about 85 million newly issued Class A ordinary shares of NIO at a per share purchase price of $8.72, according to a June 20 press release. The successful closing of the investment will also see CYVN own a 7% stake in the Chinese electric vehicle maker, while being entitled to nominate one director to NIO’s board, NIO said in a June 20 filing with the U.S. Securities and Exchange Commission. 

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