International law firm Berwin Leighton Paisner (BLP), has advised new client Pacific Century Motors (PCM), on the international merger control aspects of its acquisition of steering systems manufacturer, Nexteer Automotive, from General Motors. This deal represents the single largest Chinese investment in the global automotive supplier industry and was hailed by the Wall Street Journal as “one of the landmark deals of the era.”
The Brussels-based team was led by EU & Competition partner Dave Anderson, and assisted by associates Paul Johnson and Annabel Baxter.
BLP has one of the finest corporate finance groups in the marketplace with a growing reputation in M&A. For the last five years, the team has been ranked number one for corporate finance mid-market M&A. This transaction showcases the teams depth of expertise, having advised several other clients on similar takeover transactions.
Woody Zhou, the transaction-project leader for PCM said “We are grateful to the BLP Brussels antitrust team for their excellent advice and hard work throughout this successful deal.”
Commenting on the deal, Dave said “We are delighted to have worked so successfully with PCM and MCPS on this ground-breaking international transaction for China. BLP’s competition team is very experienced in handling complex multijurisdictional merger control cases, and we are pleased to have brought that experience to bear on behalf of PCM in securing the European clearances needed to get this important deal to closing.”
The team worked closely with the lead corporate counsel for PCM, Detroit-based Miller Canfield Paddock & Stone (MPCS).
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