Sidley Austin, White & Case, King & Wood Mallesons (KWM) have secured lead roles on General Electric Co’s sale of its appliance business to China’s Haier Group for $5.4 billion in cash.
The deal, Haier's biggest ever, will give a big boost to its U.S. business, which held less than 5 percent of the market last year.
Sidley Austin represented General Electric, led by Chicago partners Brian Fahrney, Seth Katz and Adam Snyder, Beijing partner Tao Lan and Hong Kong partner Tom Deegan.
White & Case and KWM advised Haier on international and domestic legal issues, respectively.
The White & Case team was led by partners Vivian Tsoi, Alex Zhang, Greg Pryor, Dan Latham, John Shum, David Li, Daren Orzechowski, Scott Weingaertner, Rebecca Farrington, Axel Schulz, Steven Lutt and Doug Halsey.
KWM’s team included partners Xu Ping, Song Yanyan, He Wei, Li Qiang and Liu Cheng.
The deal comes weeks after GE walked away from a deal to sell the business to Sweden's Electrolux for $3.3 billion, following months of opposition from U.S. antitrust regulators.
This transaction, which is subject to shareholder and regulatory approvals, is expected to close in the second quarter of 2016.
