Daimler legal team opposes new panel

According to a source close to the company, ­factions within Daimler’s legal department have taken a dim view of the panel search, believing the process to be counterproductive because Daimler already has good relations with a ­number of firms.

The panel places are understood to cover the full range of legal services, including finance and ­litigation, with Daimler ­taking a sector approach to dishing out places.
It is not yet known how many spots are up for grabs on the panel, but the ­submission process began between six and seven weeks ago and is expected to be completed around early or mid-July.

Freshfields Bruckhaus Deringer has won several mandates for Daimler in the past, advising on the ­company’s joint venture with Nissan and Renault in 2010. Shearman & Sterling and Skadden Arps Slate Meagher & Flom have also acted as advisers to the ­company in the past.

In a statement a spokesperson for Daimler said: “As a matter of ­principle, we do not give any comment on pitches.”