Slaughters and Paul Hastings Go Nuclear In £250M Energy Deal
The transatlantic energy deal sees longstanding advisers win roles as Wood Group offloads its nuclear business.
August 20, 2019 at 03:52 AM
2 minute read
Paul Hastings and Slaughter and May have taken the lead roles on the £250 million ($304 million) sale of energy provider Wood Group's nuclear business operations in the U.K., Europe, and Asia.
Paul Hastings is advising U.S. construction company Jacobs Engineering Group on its acquisition with a team led by London M&A partner Roger Barron, who said the deal was "interesting from a Brexit point of view" because it is a "significant investment in the U.K. by a U.S. company".
Barron's team also includes the firm's managing partner Ronan O'Sullivan, who previously advised Jacobs Engineering on acquisitions in 2011 and 2013, and London managing partner Arun Birla.
M&A partner Matthew Poxon, employment partner Suzanne Horne and privacy and cybersecurity partner Sarah Pearce are also acting on the deal in London, with Paris antitrust partner Pierre Kirch and Washington D.C. partners Charles Patrizia and Scott Flicker also providing advice.
Jacobs said in a statement that, providing the deal is cleared by the U.K.'s Competition and Markets Authority, it expects to close the acquisition by its second fiscal quarter in 2020.
Slaughter and May is advising longstanding client Wood Group on the transaction. Corporate partner Simon Nicholls is heading up the firm's team.
In 2011, Nicholls led a Slaughters team advising Wood Group on U.K. aspects of the £2.8 billion ($3.4 billion) billion sale of its Well Support division to U.S. industrial giant General Electric, and again in 2017, when he advised the company on its £2.2 billion ($2.7 billion) acquisition of energy rival Amec Foster Wheeler.
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