GM sells Strasbourg plant to Punch Metals International N.V.
Clients General Motors Company
Jones Day advised General Motors Company in connection with the sale of its Strasbourg plant to Punch Metals International N.V. The transaction includes a long-term supply agreement with ZF, a German gearbox giant supplying Jaguar, Audi and BMW. ZF has committed to purchase a large number of drive-lines from the plant until 2017. The transaction was approved by the Strasbourg court on January 3, 2013 in the course of creditor conciliation proceedings.