Davis Polk advised Deutsche Bank Securities Inc. (Deutsche Bank) as sole book-running manager in connection with an SEC-registered offering by the UAW Retiree Medical Benefits Trust of 45,454,545 warrants to purchase the same number of shares of common stock of General Motors Company (General Motors), for net proceeds to the selling security holder of approximately $171 million. The public offering price and allocation of the warrants were determined through a modified dutch auction process conducted by Deutsche Bank, in its capacity as auction agent. The warrants are traded through the New York Stock Exchange under the symbol “GM WS C”.

General Motors and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. General Motors, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling brands. General Motors’ common stock is listed on the New York Stock Exchange under the symbol “GM” and is also listed on the Toronto Stock Exchange under the symbol “GMM.”

The Davis Polk corporate team included partners Richard A. Drucker and Ray Ibrahim, associates John K. Doulamis, Barry J. Gewolb and Gary Pong and law clerk Joseph W. Clementz. The tax team included partner Samuel Dimon and law clerk Thomas D. Phelan. Karla A. Rivera Fortis was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.