News Releases

Baker Botts Represents McDermott International in Completion of Sale of Lummus Technology

Release

Deal Description: July 7, 2020 – On June 30, 2020, McDermott International, Inc. (“McDermott”) successfully 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. To learn more, visit www.mcdermott.com.

Baker Botts L.L.P. represented McDermott in the transaction.

Corporate, Antitrust and Regulatory Counsel to McDermott: Baker Botts L.L.P.

Financial Advisors to McDermott: Evercore Group L.L.C.

Baker Botts Lawyers/Office Involved:

Corporate: Ted Paris (Partner, Houston); James Mayor (Partner, Houston); Maxim Levinson (Partner, Moscow); Steven Lackey (Associate, Houston); Sean Aguirre (Associate, Houston); Nathaniel Richards (Associate, Houston); Malakeh Hijazi (Associate, Houston); Joshua Dunegan (Associate, Houston); Daniel Jung (Associate, Houston); Lauren Richter (Associate, Houston); Rachel Collier (Associate, Houston)

Antitrust: Thomas Fina (Partner, Washington, D.C.); Stacy Turner (Partner, Washington, D.C.); Michael Bodosky (Special Counsel, Washington, D.C.); David Cardwell (Counsel, Brussels); Nathan Chubb (Senior Associate, Washington, D.C.); Adam Dawson (Senior Associate, Brussels); Sofia Doudountsaki (Associate, Brussels); Ella Adler (Associate, Brussels)

Global Projects: Paul Luther (Partner, Washington, D.C.); Jason Wilcox (Special Counsel, Washington, D.C.); Joyce Banks (Associate, Houston); Nikolai Gryzunov (Associate, Moscow)

For more information, please see McDermott’s news release here.

 

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy and technology sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.

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