General Electric Company (NYSE:GE) agreed to acquire 75% stake in Concept Laser GmbH for approximately $600 million on October 27, 2016. The agreement allows for GE to take full ownership in a number of years. Frank Herzog, founder of Concept Lazer, will continue as Chief Executive Officer of Concept Laser and will also assume a senior leadership position within GE. GE will retain Concept Laser's management and employees. Lichtenfels will continue to be Concept Laser's headquarters and will become a new German center for GE. The deal is subject to customary regulatory approval. Maximilian Schiessl, Ulrich Blech, Wolfgang Kellenter, Matthias Scheifele, Hendrik Bockenheimer, Alf-Henrik Bischke, Vera Jungkind, Andrea Schlaffge, Patrick H. Wilkening, Jonas Brost, Marco Stempin, Philipp Esser, Marina Kederoglu, Ute König, Dennis Schlottmann, Marc Wetzig, Isabel Rhode, Benedikt Migdal, Marius Marx, Claudia Nees, Christian Häußer, Peter Wehner, Philipp Otto Neideck and Philipp Cramer of Hengeler Mueller Partnerschaft von Rechtsanwälten mbB acted as the legal advisor for General Electric Company. PJT Partners acted as the financial advisor, Lacore and Allen & Overy acted as the legal advisors and Ernst & Young acted as an accountant for Concept Laser. Dr. Helge Schäfer, Dr. Sven Prufer, Alexander Wuepper, Dr. Jens Matthes, Dr. Ellen Braun and Dr. Martin Thürling of Allen & Overy LLP acted as legal advisors for the seller Marc Besen. Anne Filzmoser of Clifford Chance US LLP acted as legal advisors for General Electric Company. Natalie Vahsen, André Eggert, Yamila Eraso Peña, Dr. Ingo Schneider and Caroline Glotzbach of LACORE Rechtsanwälte acted as legal advisors to Concept Laser GmbH. Tilmann Pyszka of Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft acted as an accountant to Concept Laser GmbH.