White & Case LLP - News - White & Case Advises Acergy on Closing of US$8.8 Billion Combination with Subsea 7

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White & Case Advises Acergy on Closing of US$8.8 Billion Combination with Subsea 7

London, Brussels, New York, January 17, 2011 ... Global law firm White & Case LLP has advised NASDAQ and Oslo stock exchange-listed Acergy S.A. on the closing of its combination with Oslo stock exchange-listed Subsea 7 Inc, to create a global leader in seabed-to-surface engineering and construction. Based upon the share's closing price on January 7, 2011, the market capitalization of the combined entity is approximately US$8.8 billion.

White & Case LLP was instructed by Acergy to advise them on the M&A, competition, tax, employment, employee benefits, pensions and finance aspects of the merger.

Peter Finlay, co-head of WEMEA M&A, commented that "this was an unusually complex transaction that required significant project management and successful cooperation over many months with in-house counsel from Acergy and Subsea 7 and their respective external advisers in the UK, Norway, Luxembourg and Cayman Islands."

The new entity will have the capability and resources to address the worldwide growth in size and complexity of subsea projects, with enhanced presence in all major offshore oil and gas regions. The combined business, which has more than 12,000 employees worldwide, will create a global leader in seabed-to-surface engineering and construction able to provide clients with engineering, procurement, installation and commissioning services for subsea umbilical, riser and flowline projects, conventional field development and life-of-field services.

The White & Case LLP team was led on the M&A side in London by Peter Finlay and in New York by Gregory Pryor. The competition team was led by Mark Powell, the tax team was led by Peita Menon, the employment, employee benefits and pensions team was led by Nicholas Greenacre and Stephen Ravenscroft, and the finance team was led by Gavin McLean. They were assisted by John Cunningham, Ian Reynolds, Anthony Oates, Marten Olsson, Ivy Lam, Jeremy Reynolds, Prabhu Narasimhan, Kea Syn Teo and Euan Fergusson.

Subsea 7 was advised by Slaughter and May, with a team led by Tim Boxell, Stephen Powell and Andrew Sword.

Acergy was provided with Norwegian, Cayman and Luxembourg law advice by Wikborg Rein, Walkers and Elvinger, Hoss & Prussen law firms. Subsea 7 was provided with Norwegian, Cayman and Luxembourg law advice by Wiersholm, Maples & Calder and Arendt & Medernach law firms.

About White & Case
White & Case LLP is a leading global law firm with lawyers in 36 offices in 25 countries. Among the first US-headquartered law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and the depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, as well as their representation in arbitration and litigation proceedings.

Contact:
James Martin
+ 44 20 7532 2853
jmartin@whitecase.com

Jane Jardine
Public Relations
+ 44 20 7532 2844
jjardine@whitecase.com

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Expertise Antitrust Employment & Benefits Mergers & Acquisitions Tax Lawyers John Cunningham Euan Fergusson Peter Finlay Nicholas Greenacre Ivy Lam Gavin McLean Peita Menon Prabhu Narasimhan Mårten Olsson Mark D. Powell Gregory Pryor Stephen Ravenscroft Ian Reynolds Jeremy Reynolds Locations London Brussels New York	White & Case Advises Acergy on Closing of US$8.8 Billion Combination with Subsea 7 London, Brussels, New York, January 17, 2011 ... Global law firm White & Case LLP has advised NASDAQ and Oslo stock exchange-listed Acergy S.A. on the closing of its combination with Oslo stock exchange-listed Subsea 7 Inc, to create a global leader in seabed-to-surface engineering and construction. Based upon the share's closing price on January 7, 2011, the market capitalization of the combined entity is approximately US$8.8 billion. White & Case LLP was instructed by Acergy to advise them on the M&A, competition, tax, employment, employee benefits, pensions and finance aspects of the merger. Peter Finlay, co-head of WEMEA M&A, commented that "this was an unusually complex transaction that required significant project management and successful cooperation over many months with in-house counsel from Acergy and Subsea 7 and their respective external advisers in the UK, Norway, Luxembourg and Cayman Islands." The new entity will have the capability and resources to address the worldwide growth in size and complexity of subsea projects, with enhanced presence in all major offshore oil and gas regions. The combined business, which has more than 12,000 employees worldwide, will create a global leader in seabed-to-surface engineering and construction able to provide clients with engineering, procurement, installation and commissioning services for subsea umbilical, riser and flowline projects, conventional field development and life-of-field services. The White & Case LLP team was led on the M&A side in London by Peter Finlay and in New York by Gregory Pryor. The competition team was led by Mark Powell, the tax team was led by Peita Menon, the employment, employee benefits and pensions team was led by Nicholas Greenacre and Stephen Ravenscroft, and the finance team was led by Gavin McLean. They were assisted by John Cunningham, Ian Reynolds, Anthony Oates, Marten Olsson, Ivy Lam, Jeremy Reynolds, Prabhu Narasimhan, Kea Syn Teo and Euan Fergusson. Subsea 7 was advised by Slaughter and May, with a team led by Tim Boxell, Stephen Powell and Andrew Sword. Acergy was provided with Norwegian, Cayman and Luxembourg law advice by Wikborg Rein, Walkers and Elvinger, Hoss & Prussen law firms. Subsea 7 was provided with Norwegian, Cayman and Luxembourg law advice by Wiersholm, Maples & Calder and Arendt & Medernach law firms. About White & Case White & Case LLP is a leading global law firm with lawyers in 36 offices in 25 countries. Among the first US-headquartered law firms to establish a truly global presence, we provide counsel and representation in virtually every area of law that affects cross-border business. Our clients value both the breadth of our global network and the depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, as well as their representation in arbitration and litigation proceedings. Contact: James Martin + 44 20 7532 2853 jmartin@whitecase.com Jane Jardine Public Relations + 44 20 7532 2844 jjardine@whitecase.com