Bird & Bird LLP has advised NASDAQ-listed company Itron Inc. on the sale of its global gas regulator business and European commercial and industrial gas metering business to Dresser Utility Solutions, a solutions provider for utility companies.
The transaction was signed in November 2021 and was subject to customary closing conditions, including foreign direct investment control and the completion of European and country-specific procedures with employee representatives. The transaction closed on 28th February 2022.
Itron innovates the way utilities and cities manage energy and water, enabling them to deliver critical infrastructure solutions safely and reliably to communities in more than 100 countries. Dresser Utility Solutions will benefit by expanding its global presence and product offerings, specifically increasing its focus on innovative solutions for gas and water utilities.
As part of the sale, Itron employees from the gas regulator business and the commercial and industrial gas metering business, will become employees of Dresser Utility Solutions. Itron will continue to develop and offer high-quality communicating electricity, gas and water equipment in Europe and worldwide.
Itron Inc. was advised by the following Bird & Bird lawyers: Partner Stefan Münch and associate Marcel Nurk, (both corporate/M&A, Munich), partner Thomas Hey and associate Julia Kunzmann, (both employment/company pension law, Düsseldorf), partner Dr. Ralph Panzer and associates Florian Kessenich and Laura Schildberg, (all employment, Munich) and partner Dr. Stephan Waldheim and associate Tamy Tietze, (both EU and Competition/foreign direct investment, Düsseldorf).