White & Case Advises American Superconductor Corporation on its €190 Million Acquisition of The Switch Engineering Oy | White & Case LLP International Law Firm, Global Law Practice
White & Case Advises American Superconductor Corporation on its €190 Million Acquisition of The Switch Engineering Oy

White & Case Advises American Superconductor Corporation on its €190 Million Acquisition of The Switch Engineering Oy

Global law firm White & Case LLP has advised American Superconductor Corporation (NASDAQ: AMSC), a global power technologies company, on its €190 million acquisition of The Switch Engineering Oy, a power technologies company headquartered in Finland with substantial operations in China. Approximately 70 percent of the purchase price is paid in cash and 30 percent in the form of AMSC stock. AMSC's growth in recent years has primarily been driven by the sale of wind turbine core electrical components and full wind turbine electrical control systems to licensees and strategic partners. The Switch provides a substantial existing channel for power electronics and control system sales to other global wind turbine manufacturers. Closing of the transaction, which is subject to customary closing conditions and regulatory clearances, is expected by August 31, 2011.

"This transaction is further evidence of the accelerating growth and consolidation in the 'clean power' sector. It is also among the largest M&A transactions in Finland for some time," says Timo Airisto who led the White & Case negotiation team.

White & Case corporate team was led by partner Timo Airisto in Helsinki assisted by Kristiina Ketola, Erika Tolonen and Elina Viklund, Hanna-Leena Kääriäinen and Essi Lavikkala in Helsinki; Daniel Latham, David Johansen, David Dreier, Alison M. Dreizen, Adam Zitter, Frank Lupinacci and Luke Laumann in New York; John Runeckles and Simon Burlinson in London; and Jiong Deng in Shanghai. The competition team was led by Susanne Innes-Stubb in Helsinki assisted by Kiira Tuohimaa in Helsinki and Patrick Ma in Beijing.

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