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General Motors

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has asked real estate agent

Jones Lang LaSalle

for help in raising up to $257 million from the sale and leaseback of some of its European offices and other property assets, the

Financial Times


The mandate is part of a global push by the carmaker to raise up to $4 billion from asset sales and capital.

"We have engaged Jones Lang LaSalle to advise us on certain non-manufacturing assets," said Denis Chick, director of communications for GM's U.K. and Ireland operations, the

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Financial Times


GM wouldn't comment on which assets it was seeking to sell in Europe, the paper said.

Assets it might sell in Europe include the offices of its Saab brand in Sweden and the Vauxhall headquarters in Luton, England, the newspaper reports, citing a person familiar with the company's plans.

Jones Lang LaSalle confirmed it was advising the automaker, but wouldn't comment further, the newspaper said.

In the U.S., GM is looking to sell and lease back the Renaissance Center, the Detroit skyscraper complex that serves as its headquarters, the newspaper said.

General Motors Europe on Thursday said it wants to cut labor costs by 10% without eliminating jobs, according to a letter sent to GM employees, the

Associated Press


This article was written by a staff member of