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Dana Corporation issues stock to Centerbridge Capital Partners

July 2007

Client(s) Dana Corporation

Jones Day advised Dana Corporation, a supplier of axle, driveshaft, structural, sealing and thermal products for global vehicle manufacturers, in the $750 million investment by Centerbridge Capital Partners, L.P. Under the terms of the agreement, Centerbridge will purchase up to $500 million of convertible preferred stock and facilitate an additional investment of up to $250 million in convertible preferred stock.

The investment was subject to Dana's filing of a plan of reorganization and a disclosure statement.

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