Slaughters and Paul Hastings lead on $900m construction company buyout
The London office of Paul Hastings Janofsky & Walker has picked up a role advising opposite Slaughter and May on Jacobs Engineering Group's $900m (£556m) acquisition of Oslo-listed Aker Solutions' construction business. London corporate partner Ronan O'Sullivan led a global team from Paul Hastings advising Jacobs Engineering on the deal, which closed last week (31 January). The City team included litigation partner Michelle Duncan and tax partner Arun Birla. In addition, Los Angeles partners Robert Miller (corporate) and Alexander Lee (tax), New York employment partner Erika Collins, Shanghai managing partner David Wang and China employment head Lesli Ligorner also advised.
February 08, 2011 at 02:28 AM
2 minute read
The London office of Paul Hastings Janofsky & Walker has picked up a role advising opposite Slaughter and May on Jacobs Engineering Group's $900m (£556m) acquisition of Oslo-listed Aker Solutions' construction business.
London corporate partner Ronan O'Sullivan led a global team from Paul Hastings advising Jacobs Engineering on the deal, which closed last week (31 January).
The City team included litigation partner Michelle Duncan and tax partner Arun Birla. In addition, Los Angeles partners Robert Miller (corporate) and Alexander Lee (tax), New York employment partner Erika Collins, Shanghai managing partner David Wang and China employment head Lesli Ligorner also advised.
Aker Solutions instructed magic circle firm Slaughters and Norwegian independent Bugge Arentz-Hansen & Rasmussen (BAHR) as joint counsel. Leading for Slaughters was corporate partner Tim Boxell, while BAHR fielded a team led by corporate partner Sven Gerhard Simonnaes.
O'Sullivan said: "This acquisition will enable [Jacobs Engineering] to broaden its service offerings and expand its presence in the mining and metals market. It will also allow the company to grow its business in Australia, China, Europe and North America and to move into new markets in South America."
The deal includes the principal operations within Aker's process and construction business, but excludes some operations in the US. With 2010 revenues of just under $10bn (£6.2bn), Jacobs Engineering Group is one of the world's largest providers of technical, professional and construction services. Its global network includes more than 160 offices in over 20 countries.
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