London, UK (February 1, 2011) -- Paul, Hastings, Janofsky & Walker (Europe) LLP has advised Jacobs Engineering Group Inc. on the acquisition of the process and construction business from Oslo-listed Aker Solutions ASA. The transaction, which closed today, was led by London corporate partner Ronan OSullivan.
A global Paul Hastings team led out of the London office assisted Jacobs in all elements of the transaction, including negotiation and closing of the transaction documents, tax, employment and benefit matters, due diligence and regulatory compliance. The purchase price was in excess of US$900 million, including cash and debt adjustments.
Ronan OSullivan commented:
We are pleased to have advised Jacobs on this significant acquisition which will enable it to broaden its service offerings and to expand its presence in the mining and metals market. It will also allow Jacobs to grow its business in Australia, China, Europe and North America and to move into new markets in South America.
With 2010 revenues of nearly $10 billion, Jacobs Engineering Group Inc. is one of the world's largest and most diverse providers of technical, professional and construction services. Its global network includes more than 160 offices in more than 20 countries.
Aker Solutions ASA, through its subsidiaries and affiliates, is a global provider of engineering and construction services, technology products and integrated solutions. Aker Solutions' business serves several industries, including oil & gas, refining & chemicals, mining & metals and power generation.
The Paul Hastings team was led by corporate partner Ronan OSullivan
in London, supported by associates Meagan Olsen
and Nasym Korloo
. The team included partners Michelle Duncan
and Arun Birla
in London, Robert Miller
and Alexander Lee
in Los Angeles, Erika Collins
in New York and David Wang
and Lesli Ligorner
Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.