Carey, Clifford Chance, Demarest, Jones Day, Rodrigo Elias and Weil advise GE on $2.6BN sale

GE completed the $2.6 billion sale of its electrification solutions business to ABB, a deal which was announced in September 2017 and included assets in Brazil, Chile, Mexico and Peru.

GE is a digital-industrial conglomerate with global operations in aviation, healthcare, power, energy, digital,  manufacturing, venture capital and finance, lighting, transportation, and oil and gas. In recent times, the company has sold a number of non-core assets to focus on higher-margin businesses. 

ABB is a Swiss company which focuses on electrification products, robotics and motion, industrial automation and power grids. As part of the deal, GE and ABB established a long-term strategic supply relationship for the Swiss company to provide GE with products. ABB also entered a long-term agreement to use GE’s brand.

The counsel list for GE includes 
– Carey in Santiago de Chile, led by with partner Pablo Iacobelli:
– Clifford Chance in Brussels, for the merger filings, led by partner Tony Reeves
– Demarest Advogados in São Paulo, led by partners Gabriel Ricardo Kuznietz and Douglas Mota
– Jones Day in London and New York, for labour matters, led by partners Jessica Kastin and Mark Taylor
– Rodrigo, Elías & Medrano Abogados in Lima, led by partners Luis Enrique Palacios and Jose Talledo
– Weil, Gotshal & Manges in New York, led by partners William Gutowitz and Jackie Cohen

ABB instructed the following law firms, among others: 
– Davis Polk & Wardwell, in New York, led by partners Phillip R. Mills and Michael Davis
– Pinheiro Neto Advogados in São Paulo, led by partner Eduardo Paoliello