General Motors has asked Jones Lang LaSalle to help it raise up to €200m ($257m) from the sale and leaseback of some of its European offices and other property assets.

The mandate is part of a global push by the carmaker to raise up to $4bn from asset sales and capital market transactions as it runs critically short of cash.

When it reported third quarter financial results, GM said it was studying additional ways to generate cash. It wants to sell and lease back the Renaissance Center, its Detroit headquarters. It is trying to sell its Hummer brand, a factory in Strasbourg and its AC Delco car parts business.

Financial Times