Clifford Chance (CC) has advised a trio of private equity houses on the sale of oil mining equipment company Vetco Gray to GE’s oil and gas division for $1.9bn (£977m).
CC corporate partners Adam Signy and Ian Bagshaw advised Candover, 3i and JPMorgan Partners as they sold Vetco Gray, part of an investment they made in July 2004. The buy-out syndicate will retain its investment in related oil and gas production facility company Vetco Aibel.
GE was advised by Weil Gotshal & Manges in the US, with corporate co-head Thomas Roberts and Dallas-based corporate partner Jay Tabor leading the team.
