© 2014 The Texas Lawbook.
By Mark Curriden, JD
Senior Writer for The Texas Lawbook
(May 8) – General Electric announced Thursday it is selling its Austin-based subsidiary Wayne fuel dispensing business to Riverstone Holdings, a New York-based private equity firm that has tens-of-billions of dollars in investments in the oil and gas industry in Texas.
The financial terms of the deal were not disclosed, but Reuters news service reported that the value of Wayne is between $600 million and $700 million.
GE turned to Jay Tabor, a corporate law partner in the Dallas office of Gibson, Dunn & Crutcher, to lead its side in the transaction. Dallas corporate associates Jonathan Whalen, Caitlin Calloway and Jeff Henderson also assisted.
Tabor represented GE last year when it acquired Lufkin Industries for $3.3 billion.
Latham & Watkins advised Riverstone in the Wayne transaction.
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