14
Wed, Apr
62 New Articles

WKB and Weil, Gotshal & Manges Advise on ABB Acquisition of GE Industrial Solutions

WKB and Weil, Gotshal & Manges Advise on ABB Acquisition of GE Industrial Solutions

Poland
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

WKB has advised ABB on the Polish aspects of its acquisition of GE Industrial Solutions, General Electric’s global electrification solutions business. The seller, General Electric, was represented by Weil, Gotshal & Manges.

ABB specializes in electrification products, robotics and motion, industrial automation, and power grids, and serves customers in utilities, industry and transport, and infrastructure. According to WKB, ”the acquisition of GEIS strengthens ABB’s second global position in electrification.” The compamy plans to integrate GEIS into ABB’s Electrification Products division as a new business unit called Electrification Products Industrial Solutions.

According to ABB, "the USD 2.6 billion transaction offers substantial value creation potential within ABB, including growth opportunities to be leveraged from coupling ABB’s digital offering, ABB Ability, with the extensive GEIS installed base. ABB expects to realize approximately USD 200 million of annual cost synergies in year five, which will be key in bringing GEIS to peer performance."

The transaction closed on June 30, 2018, after receiving clearance from the European Commission.

The WKB team was led by Partners Jakub Jedrzejak and Ben Davey, supported by Senior Associates Magdalena Piszewska, Krzysztof Wawrzyniak, and Karina Chrostowska.

Weil's Warsaw-based team was led by Partner Lukasz Gasinski, assisted by Partner Filip Uzieblo and Associates Tomasz Bakowski, Tomasz Karkowski, and Wiktor Zien. Senior Associate Marek Kanczew provided tax advice.

 

Poland Knowledge Partner

Penteris is a law firm combining in-depth expertise, robust advice, and a pan-regional reach.

We provide full-service business law advice within five sector lines: Energy & natural resources, Financial institutions, Private equity, Real estate, and Retail.

On the market since 2001, we were originally part of a Scandinavian law firm and then a founding office of a pan-Baltic organisation.

Our attorneys will work closely with you, providing you with the hard skills, service-minded know-how, and legal expertise that will keep you secure while you lead the market.

Our skills are at your disposal:

  • Expertise and passion wrapped up in a personal service
  • Close-knit team providing a multidisciplinary approach
  • Ability to listen, understand, and deliver for the tangible benefit of the client.

The team continues to be internationally recognised year on year, most recently by Chambers Global 2020, Chambers Europe 2020, and The Legal 500 EMEA 2020.

Firm's website: https://penteris.com

Our Latest Issue