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Latham & Watkins Assists Hyundai Motor Company and Kia Corporation in Securing CFIUS Clearance

May 13, 2021
The firm’s Washington, D.C.-based CFIUS team advised the South Korean multinational automotive manufacturers.

Hyundai Motor Company and Kia Corporation have received clearance from the Committee on Foreign Investment in the United States (CFIUS) in connection with their planned investments in IonQ, a quantum computing company. CFIUS concluded that there are no unresolved national security concerns with respect to the transaction.

Latham & Watkins LLP advised Hyundai Motor Company and Kia Corporation on the CFIUS clearance process with a team led by Washington, D.C. partner Les Carnegie, with associates Zachary Eddington and Matthew Gregory. The corporate deal team advising Hyundai Motor Company and Kia Corporation on the strategic investments into IonQ is led by Hong Kong partner Steve Kang, with Seoul associate Regina Kim, and Houston partner Ryan Maierson, with associates Ryan Lynch and Jordan Mack.