Vinson, Orrick Advise in $2.9 Billion Electric SUV Maker Deal

Vinson & Elkins is advising an Apollo Global Management-backed company on a merger with electric car startup Fisker Inc., the firm said.

Spartan Energy Acquisition Corp., a special purpose acquisition company, is merging with Fisker to create a new entity expected to be worth $2.9 billion, according to a statement. Fisker said it plans to use the more than $1 billion it takes in from the merger to fund development of an all-electric sport utility vehicle, to begin production in 2022.

Orrick Herrington & Sutcliff said it’s advising Fisker on the transaction, which calls for the merged company to ...