Clifford Chance has advised AUDI AG, BMW Group and Daimler AG on the formation of the consortium and the joint acquisition of HERE digital mapping business from Nokia Corporations.

The three underwriters will each hold an equal stake in HERE; none of them seeks to acquire a majority interest. Subject to the approval of the relevant antitrust authorities, the transaction is expected to close in the first quarter of 2016.

HERE produces extremely precise, digital maps which are important prerequisites for new assisting systems and ultimately fully autonomous driving. HERE provides mapping and location intelligence for nearly 200 countries in more than 50 languages.

The acquisition is intended to secure the long term availability of HERE’s products and services as an open, independent and value creating platform for cloud-based maps and other mobility services accessible to all customers from the automotive industry and other sectors.

The Clifford Chance team was led by partner Dr. Nicole Englisch and comprised partner Jan F. Wrede, counsel Dr. Bernhard Magg and senior associate Regina Goebel (all Corporate, Munich), partner Dr. Joachim Schütze and senior associate Dr. Florian Wiesner (both Antitrust, Düsseldorf) as well as partner Barbara Mayer-Trautmann (Banking & Capital Markets, Munich).The Clifford Chance office New York was involved with partner Benjamin K. Sibbett as well as counsels Michele M. Chebli (both Corporate) and Daryl Fairbairn (IP).