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Latham & Watkins Advises Cruise in its US$2 Billion Equity Investment

January 19, 2021
The investment raised the San Francisco-based company’s valuation to US$30 billion.

Cruise and General Motors have announced they have entered a long-term strategic relationship with Microsoft to accelerate the commercialization of self-driving vehicles. Microsoft will join General Motors, Honda and institutional investors in a combined new equity investment of more than US$2 billion in Cruise, bringing the post-money valuation of Cruise to US$30 billion.

Latham & Watkins LLP represents Cruise in the transaction with a corporate deal team led by Bay Area partners Jim Morrone and Tad Freese, with San Diego associate Evan Youngstrom. Advice was also provided on antitrust matters by Washington, D.C. counsel Patrick English, with Brussels associate Apostolos Papadimitriou; on benefits and compensation matters by Bay Area partner James Metz; and on tax matters by Bay Area partner Katharine Moir.