Mayer Brown advises Chinese car manufacturer BAIC on the shareholding in GM subsidiary SAAB
15 September 2009
International law firm Mayer Brown advises Chinese car manufacturer Beijing Automotive Industry Corp. (BAIC) as transaction counsel on the partial acquisition of Swedish General Motor subsidiary SAAB. BAIC will enter into the Koenigsegg group as a minority shareholder.
Koenigsegg has already concluded a purchase agreement for all SAAB shares with General Motors but is not able to raise the entire purchase price.
This is the second instruction for Mayer Brown from BAIC, following the firm’s work on the bidding process for Opel/Vauxhall. The Mayer Brown team from the Corporate & Securities, IP and Tax Transaction practices includes Julie Zhang in Beijing, Mark Uhrynuk and Jeckle Chiu in Hong Kong, Stephan Gittermann and Ulrich Worm in Frankfurt and Paul Crimmins in Chicago.