Punch International NV (ENXTBR:PUN) entered into a preliminary agreement to acquire General Motors Strasbourg S.A.S. from General Motors Automotive Holdings, S.L. on November 21, 2012. Punch International NV will absorb all 1000 employees. The transaction is subject to General Motors Strasbourg S.A.S. works council and is expected to close by December 21, 2012. On December 18, 2012, it was notified that Trade unions reacted with mixed opinions. The CFDT trade union has given a positive advice but still has questions about the social guarantees, and the CGT trade union has opposed the takeover as it doubts whether all jobs at the plant will be kept.

Punch International NV (ENXTBR:PUN) entered into a preliminary agreement to acquire General Motors Strasbourg S.A.S. from General Motors Automotive Holdings, S.L. on December 21, 2012. Post transaction, all current employees of the operations will be maintained by Punch Metals. The agreement is subject to the usual legal and administrative process subject to approval by the French authorities and is expected to be completed early 2013. As of January 3, 2013, the trade chamber of the high court of Strasbourg approved the transaction. The transaction is expected to complete on February 1, 2013. Jacques Isnard, Alexandra Rohmert, Chantal Jordan, Alain Herrmann, Denis Redon, Mélanie Comert, François Hellio and Johann Roc'h of CMS Bureau Francis Lefebvre acted as legal advisors to Punch Metal. Laurent Assaya, Tatiana Baudry, Adeline Pétré, Jean-Michel Bobillo, Gabriel Ferran, Frédéric Gros, Sophie Chevallier, Eric Barbier de la Serre, Eileen Lagathu, David Desforges, Vincent Agulhon and Loïc Védie of Jones Day acted as legal advisors to General Motors. Brian Giulani and Michael Calabrese of Barclays Capital Inc. acted as financial advisors to General Motors. Emil Epp of Epp & Kühl acted as legal advisor for General Motors Automotive.

Punch International NV (ENXTBR:PUN) cancelled the acquisition of General Motors Strasbourg S.A.S. from General Motors Automotive Holdings, S.L. on November 21, 2013.