Baker Botts L.L.P. represented McDermott International in the transaction.
McDermott International Inc. completed the sale of its Lummus Technology business in connection with completing its restructuring process.
Lummus Technology was sold to a joint partnership between Haldia Petrochemicals Ltd., a flagship company of The Chatterjee Group, and Rhône Capital. Proceeds from the sale of Lummus Technology were used to repay McDermott’s debtor-in-possession financing in full, as well as fund emergence costs and provide cash to the balance sheet for long-term liquidity.
McDermott is a premier, fully integrated provider of engineering and construction solutions to the energy industry. McDermott’s customers trust its technology-driven approach to design and build infrastructure solutions to responsibly transport and transform oil and gas into the products the world needs today. From concept to commissioning, McDermott’s expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. It is called the “One McDermott Way.” Operating in over 54 countries, McDermott’s locally focused and globally integrated resources include approximately 40,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world.
Baker Botts team included Ted Paris (Picture), James Mayor, Maxim Levinson, Steven Lackey, Sean Aguirre, Nathaniel Richards, Malakeh Hijazi, Joshua Dunegan, Daniel Jung, Lauren Richter, Rachel Collier, Thomas Fina, Stacy Turner, Michael Bodosky, David Cardwell, Nathan Chubb, Adam Dawson, Sofia Doudountsaki, Ella Adler, Paul Luther, Jason Wilcox, Joyce Banks and Nikolai Gryzunov.
Involved fees earner: Sean Aguirre – Baker Botts; Arigesta Joyce Banks – Baker Botts; Michael Bodosky – Baker Botts; David Cardwell – Baker Botts; Nathan Chubb – Baker Botts; Rachel Collier – Baker Botts; Adam Dawson – Baker Botts; Sofia Doudountsaki – Baker Botts; Joshua Dunegan – Baker Botts; Thomas Fina – Baker Botts; Nikolai Gryzunov – Baker Botts; Malakeh Hijazi – Baker Botts; Daniel Jung – Baker Botts; Steven Lackey – Baker Botts; Maxim Levinson – Baker Botts; Paul Luther – Baker Botts; James Mayor – Baker Botts; Theodore Paris – Baker Botts; Nathaniel Richards – Baker Botts; Lauren Richter – Baker Botts; Stacy Turner – Baker Botts; Jason Wilcox – Baker Botts;
Law Firms: Baker Botts;
Clients: McDermott International, Inc.;