Alstom/GE Deal Done – Hogan Lovells Powers Ahead
Tuesday 3 November 2015 - A powerhouse Hogan Lovells team has advised Alstom on the disposal of its €12.4 billion energy business to General Electric (GE); Alstom’s approx. €700 million acquisition of GE’s Intelligent Transportation Solutions business; and the subsequent establishment of joint ventures in three key energy sectors.
The deal, which closed yesterday, sees GE acquire Alstom's worldwide power and grid businesses; and Alstom acquire GE’s transportation signalling business, which provides rail signalling products and solutions for optimizing railway and mass transit operations worldwide.
The two companies have also established joint ventures in the grid, renewable power and nuclear sectors. These JVs will continue to play a significant role in the global power and energy market, with the combined strength of Alstom and GE behind them.
Hogan Lovells advised Alstom on full spectrum legal implications including:
- financing and bonding guarantees, led by Paris based Head of Finance Sharon Lewis;
- M&A and joint venture formation, led by partners Andrew Briggs (London), Xavier Doumen (Paris), Mark Mazo (Washington,D.C. and Paris), and Carine Stoick (Northern Virginia);
- foreign investment law, led by Brussels based partner Lourdes Catrain; and
- merger investigation and competition issues, led by global antitrust co-heads, Suyong Kim (London) and Janet McDavid (Washington,D.C.)
The team was supported by Alstom relationship partner Roberta Downey and a global team from across Hogan Lovells offices in Amsterdam, Beijing, Brussels, Caracas, Denver, Dubai, Johannesburg, London, Madrid, Mexico City, Milan, Moscow, Munich, Paris, New York, São Paulo, Shanghai, Singapore, Warsaw, Northern Virginia and Washington, D.C.
Commenting on the transactions Sharon Lewis said:
"These deals deliver value and alter the face of the global transport and energy landscape. We congratulate Alstom and GE on this "gamechanging" transaction. Hogan Lovells has been proud to support Alstom across these inter-related transactions by mobilising multi-faceted global teams with deep industry knowledge, which is one of our key strengths in advising clients on the most sophisticated legal structures and complex issues wherever they arise."