May 31, 2018
Weil is advising SoftBank Vison Fund in its $2.25 billion minority investment in GM Cruise Holdings LLC (Cruise), a developer of self-driving vehicles. When the deal closes, General Motors will also invest an additional $1.1 billion into Cruise. The SoftBank Vision Fund will own a 19.6% equity stake in Cruise. The GM and SoftBank Vision Fund investments are expected to provide the capital necessary to reach commercialization at scale in 2019, subject to the satisfaction of certain closing conditions.
The Weil team advising Softbank is led by Private Equity/Mergers & Acquisitions partner Kyle Krpata and includes Mergers & Acquisitions partner James Griffin, and Corporate associates Lawrence Lee, Maria Lei and Kymberly Thoumaked (Not Yet Admitted in California); Technology & IP Transactions partner Jeffrey Osterman; Tax partners Noah Beck and Mark Schwed; Antitrust/Competition partners Steven Bernstein and Jeffrey Perry; Cybersecurity, Data Privacy & Information Management Co-Head Randi Singer; Antitrust/Competition counsel Vadim Brusser; Technology & IP Transactions associates Marisa Geiger and Mary Lentowski; Tax associates Steven Ort and Elisabeth Allison (Not Yet Admitted in New York); and Litigation associate Elisabeth Sperle.