Miller Canfield Advises Chinese Company in Acquisition of Nexteer Automotive
Deal Represents Single Largest Chinese Investment in Global Automotive Supplier Industry
The law firm of Miller Canfield announced today that its International/Emerging Markets team represented Pacific Century Motors, Inc. (PCM) of China, which today closed on the acquisition of Nexteer Automotive from General Motors. The transaction represents the single largest Chinese investment in the global automotive supplier industry.
The Miller Canfield legal team was led by Shusheng Wang, Brad B. Arbuckle and Richard A. Walawender, principals in the Firm’s International/Emerging Markets practice, who specialize in international M&A.
The Firm’s International/Emerging Markets practice has been busy closing several large cross-border M&A transactions, especially in the automotive sector, serving as lead counsel both to foreign and U.S. companies. Earlier this year, Miller Canfield represented Mexico’s Metalsa Automotive in its $140 million acquisition of Dana Holding Corporation’s Structural Products business, one of the largest Mexico-U.S. transactions in 2010. The firm also recently represented Kongsberg Automotive ASA of Norway in its $560 million acquisition of Teleflex Global Motion Systems.
Miller Canfield has been representing clients in global business transactions for many years, especially involving emerging markets, as it established offices in Poland 20 years ago. Today its International/Emerging Markets practice has involved transactions in and with China, Mexico, India, Brazil, Eastern Europe and Russia, as well as several more developed economies.