In the spring of 2009 General Motors and Chrysler — two long-time titans of the business world and symbols of American economic power — filed for bankruptcy. Chrysler LLC was the first to file on April 30, 2009. Less than two months later, General Motors — the largest automaker in the United States and the world’s second largest — filed a 24-page bankruptcy petition on June 1, 2009.
An Arent Fox team advised a California Bay Area dealership group in its successful acquisition of a flagship dealership in downtown San Francisco. The deal was notable for the location of the dealership and the financial assistance of a national automotive corporation in making the transaction go forward. Arent Fox negotiated a very favorable Framework Agreement on behalf of the com
An Arent Fox team successfully advised a large Southern California dealership group in its acquisition of a competitor. Because of the size of the deal, the matter was complicated by a Hart Scott Rodino pre-merger notification filing. It was also leveraged with three separate credit facilities from the client’s lender and involved a high-value ground lease assignment and the buyer’s
An Arent Fox Team advised a dealership group in its first California acquisition in the recently closed the acquisition of a dealership in Corona California. This dealership group, which owns 54 dealerships in 7 Western States and is reported to be the 10th largest automotive group in the country and the 4th largest privately held group, was capably advised by the team on the high-value t
One of the largest retail dealer groups in Mexico turned to Aaron Jacoby and Arent Fox to assist in its growth strategy in North America. An Arent Fox team just closed the fourth Nissan dealership acquisition for this dealer group, expanding its U.S. and California footprint to four Nissan dealerships in Northern California, adding to its large Mexican holdings.
Aaron Jacoby and Arent Fox advised a long-time client, one of the largest dealer groups in the country, in its acquisition of a large automotive group’s Honda, Volkswagen and Buick/GMC dealerships. The acquisition target pioneered the single location auto center concept in Southern California to make it easier for customers to shop for cars. Our client now owns 13 dealerships in Cal
Aaron Jacoby led a bi-coastal Arent Fox team to the successful close of a complex $130 million sale of a large regional automotive group operating six dealerships in the greater Baltimore metropolitan region.
Aaron Jacoby concluded a sale on behalf of the a well-known Southern California automotive group of three Southern California dealerships — Honda, Kia, and Nissan — and handled the related real estate matters.
Aaron Jacoby and an Arent Fox team successfully closed a high value sale of a Mercedes dealership after an unexpected twist, as Mercedes Benz exercised its right of first refusal and assigned the time-sensitive deal to a large regional player at the very end of the calendar year.
Aaron Jacoby and the Arent Fox LLP trial team delivered a resounding victory in a multi-week trial defending the sellers of a Nissan dealership in a contentious lawsuit brought by the buyer for breach of contract, negligence, and fraud, claiming that the defendants failed to make Nissan market study-related disclosures at the time of the purchase. Defense judgment plus $800,000 attorneys’