Financial advisor to Pacific Century Motors on its acquisition of Nexteer Automotive from General Motors
On November 30, 2010, Pacific Century Motors (“PCM”), an entity backed by the Beijing Municipal Government, completed its acquisition of Nexteer Automotive (“Nexteer”) from General Motors (NYSE: GM), representing the single largest investment in the auto parts industry ever made by a Chinese company. The acquisition provided PCM with a global platform for cross-selling products as well as access to Nexteer’s world-class technology, design and manufacturing capabilities. It also positioned Nexteer for greater growth through expansion of its customer base in key emerging markets, particularly in the Asia-Pacific region. Moelis & Company acted as financial advisor to Pacific Century Motors.
