Leading international law firm, Clifford Chance announces it advised Wellstream Holdings, one of the world’s leading suppliers of flexible pipes to the offshore oil industry, on its sale to General Electric for £800million, announced yesterday. The deal will allow General Electric to expand its subsea equipment and services portfolio.
The Clifford Chance team was led by Corporate partners Tim Lewis and David Lewis.
Tim Lewis commented on the deal, “we are delighted to have advised Wellstream on this deal and throughout its history as an independent company- it shows the full service nature of the firm that we advised on Wellstream’s original formation, its subsequent IPO in 2007 and now on its takeover.”
David Lewis added, “it is great to see us working on another deal in the listed oilfield services sector after the hotly contested Expro deal.”
