United Technologies Corporation in the Acquisition of a Majority Interest in Turboden

Cleary Gottlieb is representing United Technologies Corporation and its subsidiary Pratt & Whitney Power Systems in the acquisition of a majority interest in Turboden S.r.l. and the negotiation of a related shareholders’ agreement. The quota purchase agreement was signed on June 23. The closing of the transaction, which was subject to antitrust clearances, among others, occurred on July 31. 

Turboden designs and manufactures Organic Rankine Cycle systems based on turbines and turn-key turbogenerator units for distributed power generation in biomass, geothermal, solar and industrial heat recovery applications.

UTC, a diversified company listed on the NYSE with 2008 revenues of $58.7 billion, provides high-technology products and services to the building systems and aerospace industries worldwide.