Sidley represented GE-Prolec Transformers, Inc., a subsidiary of a joint venture between GE (NYSE: GE) and Mexico-based Xignux S.A. de C.V., in its acquisition of SPX Transformer Solutions, Inc. from SPX Corporation (NYSE: SPXC). The contract purchase price was US$645 million, subject to a net working capital adjustment and other typical adjustments. The acquisition will allow Prolec GE to comprehensively serve the growing Americas market with a broader portfolio of innovative and sustainable solutions for the delivery of electrical energy.
The Sidley team included partners Alyssa A. Grikscheit (New York), Jim Lowe (Washington, D.C.), Tara Lancaster (Dallas), and Heather Palmer (Houston), counsel Beth Chen (Washington, D.C.), and associates Rachel Fridhandler and Gustavo Calazans (New York), Stewart Inman and Amanda Norton (Washington, D.C.), and staff attorney Sarah Jehl (Chicago).