Orrick’s Martel Quoted on Advising Alstom Board in $13.5B Sale of Power Unit to GE

The American Lawyer | June.23.2014

Orrick M&A partner Jean-Pierre Martel recently spoke with the American Lawyer about the firm’s role advising engineering giant Alstom SA in the negotiation of the $13.5 billion sale of the company’s energy division to General Electric.

“It started as a fairly simple transaction,” Mr. Martel said. “But when the French government became involved, things got more complicated.” He added that the relatively clear interests of those at the negotiating table offset what would have otherwise been a straightforward transaction. While GE wanted control of Alstom’s energy unit, the French government wanted assurances that jobs would be preserved and its national security interests protected.

In addition to Mr. Martel, the Paris-based Orrick team on the transaction included M&A partner Etienne Boursican, litigation associate Diane Lamarche, corporate consultant Alain Pietrancosta, antitrust & competition partner Michel Roseau,antitrust & competition associate Cécile Laboureix, energy & infrastructure senior counsel Noel Chahid Nouraï, energy & infrastructure partner Jean-Luc Champy and energy & infrastructure associate Quirec de Kersauson.