Shearman And Sterling

News Jul 25, 2017

Shearman & Sterling Advises GE on Combination of Its Oil and Gas Business With Baker Hughes

Shearman & Sterling advised GE on its agreement with Baker Hughes to combine GE’s oil and gas business with Baker Hughes to create a world-leading oilfield technology provider with a unique mix of service and equipment capabilities. Baker Hughes, a GE company, (BHGE) is the first and only company to bring together industry-leading equipment, services and digital solutions across the entire spectrum of oil and gas development.

BHGE is focused on providing a fullstream offering bringing together capabilities across the full value chain of oil and gas activities—from upstream to midstream to downstream. The company will combine physical and digital to increase reliability and uptime and build on heritage to create a world-class culture.

With $32 billion of combined revenue and operations in more than 120 countries, BHGE employs over 70,000 people with operations in more than 120 countries.  The company is dual headquartered in Houston, Texas and London, UK.

The Shearman & Sterling team was led by partners John Marzulli, Rory O’Halloran and Waajid Siddiqui (all New York-Mergers & Acquisitions) and counsel Sean Skiffington (Toronto-Mergers & Acquisitions); and associates Katie Butler, Zach Bench, Chris Glenn and Orla McMahon (all New York-Mergers & Acquisitions) and Amelia Murphy (New York-Corporate). The team also included: partners Doreen Lilienfeld (New York-Compensation, Governance & ERISA), Jordan Altman (New York-Intellectual Property Transactions) and David Dixter (London-Capital Markets); counsel Nathan Tasso (Washington, DC-Tax) and Harald Halbhuber (New York-Capital Markets); and associates Nell Beekman (New York-Compensation, Governance & ERISA), Robert Giannattasio (New York-Capital Markets),Vikki Fabian, Caitlin Ludwigsen, Isla Smith, Rosie Boyle (all London-Mergers & Acquisitions), Matthew Sherman, Denise Lum (both Singapore – Mergers & Acquisitions), Abiola Fasehun and Johnston Chen (both New York-Mergers & Acquisitions), JB Betker (New York-Intellectual Property Transactions), Samantha Glover (Sao Paulo-Corporate) and Steven Holm (London-Capital Markets).Trainees Sarah Barratt, Frances Burchall (London Mergers & Acquisitions), and Charlie Marmion (New York- Capital Markets) also worked on the transaction.