Kirkland & Ellis advised General Motors (NYSE:GM) on a new investment round for Cruise. Microsoft will join General Motors, Honda and institutional investors in a combined new equity investment of more than $2 billion in Cruise, bringing the post-money valuation of Cruise to $30 billion. In addition, as part of the long-term strategic relationship with Microsoft, Cruise and General Motors will work with Microsoft as their preferred public cloud providers. The transaction will help accelerate the commercialization of Cruise’s all-electric, self driving vehicles.
Read the companies’ press release
The Kirkland team was led by transactional partners Carlo Zenkner, Peter Martelli and Jonathan Davis and tax partners Jared Rusman and Ryan Roberts.