LG has lined up opposite Linklaters to take a lead role on United Technologies Corporation's (UTC's) acquisition of the outstanding shares of struggling wind turbine manufacturer Clipper Windpower.

LG London-based corporate partner Jeffrey Elway led a team advising longstanding client Clipper Windpower on the sale of its remaining 50.1% stake to UTC, in a deal which values the AIM-listed company at £139.5m.

The deal will see UTC take full control of the ailing business following months of talks. UTC initially acquired a 49.5% stake in Clipper last year for £166m.

Linklaters has advised UTC on the acquisition, fielding a team led by corporate head Jeremy Parr and assisted by corporate partner James Inglis.

US firm Chadbourne & Parke has advised Clipper on a $50m (£31.5m) secured loan facility put in place by UTC prior to its acquisition being announced. The firm was led by New York-based finance partner Richard Sonkin. Clipper said in September that it was looking at ways to raise capital, including a potential deal with UTC.

Elway said: "Having acted for Clipper Windpower since it floated on AIM back in September 2005, the deal for it to become a wholly-owned subsidiary of US-based UTC was agreed and announced in a very short timescale."

He added: "The deal had interesting dynamics, not least that, although being a UK-incorporated company and quoted on AIM, due to Clipper's management being based in the US it is not subject to the code on takeovers and mergers – so the lawyers on both sides had to approach the deal a little more innovatively."