CC and Weil lead on $1.1bn Siemens deal
Clifford Chance (CC) and Weil Gotshal & Manges have advised on Siemens' $1.1bn (£707m) sale of its information technology services unit to French rival Atos Origin, reports The Am Law Daily. Siemens instructed regular adviser CC for advice on the deal, with Munich partners Jan Wrede and Nicole Englisch and Paris partner Catherine Astor-Veyres leading the firm's team. Siemens' in-house team was led by Karin Flesch.
December 20, 2010 at 07:44 AM
2 minute read
Clifford Chance (CC) and Weil Gotshal & Manges have advised on Siemens' $1.1bn (£707m) sale of its information technology services unit to French rival Atos Origin, reports The Am Law Daily.
Siemens instructed regular adviser CC for advice on the deal, with Munich partners Jan Wrede and Nicole Englisch and Paris partner Catherine Astor-Veyres leading the firm's team. Siemens' in-house team was led by Karin Flesch.
On the other side, Atos was represented by Weil Gotshal & Manges. The firm has advised Atos Origin on several matters in France, although this is reportedly the group's first large deal for Atos in Germany.
Germany managing partner Gerhard Schmidt led the Weil team, which included Paris corporate partners Arthur de Baudry d'Asson, Claude Serra and Agathe Soilleux, Munich corporate partner Thomas Schmid, Frankfurt corporate partner Stephan Grauke, as well as tax partners Tobias Geerling and Joanne Etherton in Munich and London respectively.
The deal – which is set to create the largest information technology services company in Europe, with €8.7bn (£5.6bn) euros in annual revenue and 79,000 employees – is expected to close by next July, pending regulatory and board approvals.
The Am Law Daily is a US affiliate title of Legal Week.
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