White & Case LLP - News - White & Case Advises Acergy On US$5.4 Billion Combination With Subsea 7

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White & Case Advises Acergy On US$5.4 Billion Combination With Subsea 7

London, Brussels, New York, June 23, 2010 ... Global law firm White & Case LLP has advised NASDAQ and Oslo stock exchange-listed Acergy S.A. on 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 18 June 2010, the market capitalization of the combined entity is approximately US$5.4 billion.

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

"The strategic combination of these two businesses illustrates the ongoing M&A activity in the oil and gas sector, with further consolidation in the sector expected," said London corporate partner Peter Finlay. "The combination of two companies, with listings on separate stock exchanges, is always complex, but we were able to draw upon our considerable experience in both the M&A arena and oil and gas sector across our network to bring the desired result for our client."

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 over 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 by London partner Peter Finlay and New York partner Gregory Pryor. The tax team was led by London partner Peita Menon, the employment, employee benefits and pensions team was led London partners Oliver Brettle, Nicholas Greenacre and Stephen Ravenscroft and the competition team was led by partner Mark Powell. They were assisted by John Cunningham, Anthony Oates, Marten Olsson, Jeremy Reynolds, Prabhu Narasimhan, Kea Syn Teo, Ian Reynolds and Euan Fergusson.

Subsea 7 was advised by Slaughter & May, with a team led by Tim Boxell 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 and 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-based 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 depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, arbitration and litigation provided by our global practices.

Contact:
Ian Kitts
EMEA Media Relations & Corporate Communications Manager
+ 44 (0) 207 532 2857

Charlotte McCubbin
Media Relations Executive
+ 44 (0) 207 532 2848

	Press Releases
Expertise Antitrust Employment & Benefits Labor, Employment and Immigration Law Mergers & Acquisitions Corporate Tax Lawyers Peter Finlay Gregory Pryor Peita Menon Oliver Brettle Nicholas Greenacre Stephen Ravenscroft Mark D. Powell	White & Case Advises Acergy On US$5.4 Billion Combination With Subsea 7 London, Brussels, New York, June 23, 2010 ... Global law firm White & Case LLP has advised NASDAQ and Oslo stock exchange-listed Acergy S.A. on 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 18 June 2010, the market capitalization of the combined entity is approximately US$5.4 billion. White & Case was instructed by Acergy to advise them on the M&A, tax, employment, employee benefits, pensions and competition aspects of the merger. "The strategic combination of these two businesses illustrates the ongoing M&A activity in the oil and gas sector, with further consolidation in the sector expected," said London corporate partner Peter Finlay. "The combination of two companies, with listings on separate stock exchanges, is always complex, but we were able to draw upon our considerable experience in both the M&A arena and oil and gas sector across our network to bring the desired result for our client." 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 over 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 by London partner Peter Finlay and New York partner Gregory Pryor. The tax team was led by London partner Peita Menon, the employment, employee benefits and pensions team was led London partners Oliver Brettle, Nicholas Greenacre and Stephen Ravenscroft and the competition team was led by partner Mark Powell. They were assisted by John Cunningham, Anthony Oates, Marten Olsson, Jeremy Reynolds, Prabhu Narasimhan, Kea Syn Teo, Ian Reynolds and Euan Fergusson. Subsea 7 was advised by Slaughter & May, with a team led by Tim Boxell 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 and 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-based 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 depth of our US, English and local law capabilities in each of our regions and rely on us for their complex cross-border transactions, arbitration and litigation provided by our global practices. Contact: Ian Kitts EMEA Media Relations & Corporate Communications Manager + 44 (0) 207 532 2857 Charlotte McCubbin Media Relations Executive + 44 (0) 207 532 2848