- Latest example of the work of Baker McKenzie in advising Emerson Electric Co. on a complex carve out transaction
- Representative of the current trend in the industrials sector to acquire IIOT and automation technology to optimise manufacturing and production processes
Leading global law firm Baker McKenzie is advising long standing client Emerson Electric Co. on its purchase of the Intelligent Platforms business from General Electric Company ("GE"). The deal is expected to close in the first half of fiscal 2019.
GE's Intelligent Platforms business focuses on offering automation and controls technology and services for power generation, distribution, and adjacent applications across industry.
The Baker McKenzie carve out team was led by London Corporate Partner Jannan Crozier alongside Senior Associate Robert Gray, together with Partner Kim Sartin and Senior Associate Nicola James for employment, Partner Jonathan Sharp advising on pensions and Senior Associate Amy Trotter on the real estate aspects of deal. This was a cross border transaction which involved multiple Baker McKenzie's offices including Hong Kong, Singapore, Sao Paulo and Frankfurt.
Commenting on the deal, Jannan Crozier, says: "We were delighted to have once again worked with Emerson as carve out counsel on this strategically important transaction, as Emerson continues to look for opportunities to innovate its business and is looking to technology to support it and meet future challenges. For us, this is a demonstration of our continued success in advising on complex cross border carve out deals as well as our experience of working with large Industrials, Manufacturing & Transportation companies".
This is the latest example of the work of Baker McKenzie in advising on complex carve out transactions. We recently advised BGEO Group PLC on the demerger and cave-out of its investment business from the banking business, and SUEZ on its $3.4 billion acquisition of GE Water & Process Technologies. Other Emerson Electric deals include: the $810 million acquisition of Textron Tools & Test business (2018), the $3.2 billion acquisition of global manufacturing company Pentair's Valves & Controls business (2017), as well as Emerson's $5.2 billion divestitures and sale of Network Power, Leroy-Somer and Control Techniques (2016).