On July 31, 2007, Tower Automotive, Inc. announced that it had completed the sale of substantially all of its assets to Tower Automotive, LLC, an affiliate of Cerberus Capital Management, L.P. The sale concluded Tower's restructuring process and finalized its emergence from Chapter 11.
Cerberus Capital Management, L.P. is one of the world's leading private investment firms with approximately $25 billion under management in funds and accounts. Cerberus was advised in respect of Canadian components of this transaction by a team from Fasken Martineau that included Jon Levin and Edmond Lamek (restructuring), Ralph Nero (labour) and Ross Gascho (pensions and benefits).
