On March 6, 2017, the US carmaker General Motors Co. (GM; NYSE:GM, TSX:GMM) announced an agreement under which GM's Opel|Vauxhall subsidiary and GM Financial's European operations will join the French PSA Group (PSA; Paris:UG). The transaction value of these activities is EUR 1.3 bn and EUR 0.9 bn, respectively, i.e., EUR 2.2 bn in the aggregate.

The sale is subject to various closing conditions, including regulatory approvals and reorganizations, and is expected to close before the end of 2017.

Homburger is advising GM in this transaction with respect to Swiss law. The Homburger team is led by partners Balz Gross (Employment) and Daniel Hasler (Corporate | M&A) and includes partner Stefan Oesterhelt (Tax), senior counsel Ueli Huber (Pension and Social Security), associates Marc Hanslin (Corporate | M&A), Sergio Bortolani (Pension and Social Security), Richard Stäuber (Competition | Regulatory), Ralf Imstepf (Tax) and Edouard Faillot (Employment).