Paul Hastings LLP advised Baker Hughes (NASDAQ: BKR), investor and strategic partner to NET Power LLC, in connection with NET Power’s business combination with Rice Acquisition Corp. II, a publicly traded special purpose acquisition company. The combined company will operate as NET Power Inc. and has an initial enterprise value of approximately $1.5 billion. The transaction closed on June 9, 2023.

Partner Rocio Guadalupe Mendoza led the Paul Hastings team, which also included partners Will Burns and Jim Smulkowski and associate Jose Pablo Salas.

More details on the transaction can be found here.

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