Van Campen Liem assisted General Electric in Baker Hughes transaction

Van Campen Liem has assisted General Electric Company as Dutch legal counsel in connection with its combination of GE’s oil and gas business with Baker Hughes, completed on July 3, 2017.

Baker Hughes, a GE company (NYSE:BHGE) is the first and only company to bring together industry-leading equipment, services and digital solutions across the entire spectrum of oil and gas development. With headquarters in London and Houston, the combined company will have roughly $23 billion in annual revenue and offer oilfield gear including blowout preventers, pumps, drilling, chemicals, other products and services for oil producers in 120 countries. BHGE provides differentiated services for customers by combining digital solutions and technology from the GE Store with the domain expertise of Baker Hughes and its culture of innovation in the oilfield services sector.

The Van Campen Liem team that has intensively worked for over a half year on the transaction included Edwin Liem, Martina Priekaar, Wouter Casteleijn, Rachel van der Jagt, Can Bahtir, Eva Klein Obbink and Suki Bikker.

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Innovation Industries Fund

Van Campen Liem acted for the European Investment Fund (EIF), investing in a new created Dutch fund named Innovation Industries Fund.

The Innovation Industries Fund was established as a closed end fund at EUR 75 million committed capital. It shall focus its investment activities primarily on start-ups and early stage initiatives that are active in or have products or technologies in high tech areas such as physical sciences (physics and chemistry), food and agri technology, information technology and medical technology, primarily in the Netherlands. Management intends to foster relationships with research organisations in the Netherlands, including certain Dutch Universities.

EIF’s investment in the fund is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 and the European Fund for Strategic Investments set up under the Investment Plan for Europe. The transaction closed mid-June 2017.

The team at Van Campen Liem consisted of Maurits Tausk, Saskia Bergin, Diederik Palstra, Piet Boonstra and Sanne Mans.