4 November 2019 – Sandvik has signed an agreement to divest the majority of the Varel International Energy Services, meaning the operations relating to the oil and gas industry to the private equity firm Blue Water Energy and its co-investor, the privately owned Nixon Energy Investments. Sandvik will remain a minority owner of 30% of the company.

Walder Wyss AG acted as Swiss counsel to Sandvik. The team has been led by Urs P. Gnos (Partner, Corporate/M&A) and and further included Olivia Feusi (Senior Associate, Corporate/M&A), Sarah Schulthess, (Senior Associate, Corporate/M&A) and Nadine Mäder (Associate, Employment).