General Motors Makes $3.45 Billion in Additional Investments in Cruise

Paul, Weiss is advising General Motors Co. in its $2.1 billion acquisition of SoftBank Vision Fund 1’s equity ownership stake in Cruise, GM’s self-driving electric car maker subsidiary, and in GM’s separate, additional $1.35 billion investment in Cruise, replacing a previous commitment made by the SoftBank fund in 2018.

Since GM acquired a majority ownership stake of the company in 2016, Cruise, a leading manufacturer of the world’s most advanced self-driving, all-electric, shared vehicles, has made self-driving cars a reality and is a leader on the pathway to commercial autonomous ridesharing and delivery.

The Paul, Weiss team includes corporate partners Steven Williams, Scott Barshay and John Kennedy, and counsel Patricia Vaz de Almeida; executive compensation partner Jean McLoughlin and counsel Cynthia Akard and Ron Aizen; intellectual property partner Jonathan Ashtor; tax partners Jeffrey Samuels, Robert Holo and Robert Killip, and counsel Alyssa Wolpin; and antitrust counsel Marta Kelly.