CEE Firms Participate in GE Acquisition from Alstom

While Slaughter & May was global counsel to General Electric and Hogan Lovells was global counsel to Alstom on the former’s EUR 12.4 billion purchase of the latter’s power and grid businesses, a number of CEE firms and solo practitioners advised on local matters as well.

GE’s acquisition of Alstom’s energy business was finalized on November 2, 2015, and brings together two of the world’s biggest manufacturers of power plant hardware. The acquired businesses will be reorganized together with GE’s existing power generation business (GE Power & Water) as GE Power, headquartered in Schenectady, New York, USA. Of the EUR 12.35 billion sale price, EUR 9.7 billion was transferred to Alstom, with the remainder being reinvested by Alstom in GE/Alstom joint ventures, plus other corrections. Following the acquisition the remainder of the Alstom group refocused entirely on rail transport activities, and acquired GE Signalling. 

On behalf of General Electric, Tuca Zbarcea and Asociatii advised on the Romanian law aspects of the deal — consisting primarily, according to the firm, “in structuring, adjusting and implementing the necessary stages for takeover of target companies in Romania.” The firm’s team was led by Deputy Managing Partner Stefan Damian, who was supported by Managing Associate Horia Ispas, and Senior Associate Sergiu Cretu, among others.

PeliFilip represented Alstom on the deal in Romania, with a team consisting of Partner Monica Iancu and Senior Associate Eliza Baias.

In Croatia, lawyer Zrinka Knezic from the Porobija & Porobija law firm advised General Electric, while sole practitioner Tamara Musnjak-Spisic advised Alstom.

In Poland, Alstom was advised by a Hogan Lovells Warsaw team consisting of Partner Marek Wroniak and Associates Grzegorz Barszcz and Mateusz Mazurkiewicz.

In Turkey, Alstom was advised by Managing Partner Hikmet Kasaroglu and Associate Gulfem Erciyas from the Kasaroglu law firm.

Editor’s Note: After this article was published CEE Legal Matters learned that a Zepos & Yannopoulos team consisting of attorneys Takis Kakouris and Ioanna Poulakou advised GE on the acquisition in Greece, while a WKB Wiercinski Kwiecinski Baehr team consisting of Partners Ben Davey and Jacob Jedrzejak and Lawyer Adrian Michalak advised GE in Poland.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

More posts