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Merchant Banking Division of Goldman Sachs Group Negotiates Security Purchase Agreement with McDermott

Vinson & Elkins advised certain investment funds managed by the Merchant Banking Division of The Goldman Sachs Group Inc. (GS) in the negotiation of a Security Purchase Agreement pursuant to which GS will acquire 300,000 shares of the 12% Redeemable Preferred Stock of McDermott International, Inc., a Panama corporation (the Company), and a warrant to purchase a number of shares of the Common Stock of the Company equal to 3.75% of the total number of shares of Common Stock of the Company outstanding as of the closing date.

The closing is expected to occur on or about November 29, 2018.

The V&E team was led by partners Caroline Blitzer Phillips, Shamus Crosby and Ramey Layne with senior associate Crosby Scofield and associates Andrew Schulte and Luke Thomas. Also advising were partner Kaam Sahely, counsel Alistair Wishart, senior associate Alan Alexander and associates Vanessa McLellan and Steven Wilson; partner Brett Santoli; and partner David Peck and associate Lauren Meyers.

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