Restructuring of Company and Sale of Business Units

Patterson represented a multinational machine tool maker serving the aerospace, automotive, mining and industrial equipment sectors in the sale of several business units to a European conglomerate. The client intended to retain certain core business lines. Accordingly, the transaction required a restructuring and refinancing of the company and its affiliates, including the splitting of its U.S. operations into two separate subsidiary chains, the transfer of Chinese, Indian and South Korean subsidiaries between the group being sold and the group being retained and additional financing for the client’s European group. The sale required careful coordination with foreign counsel in Germany, Luxembourg, France, Mauritius, India, South Korea and China to balance U.S. foreign tax considerations.