Ogier in Cayman advises on US $232,500,000 acquisition by tender offer

Ogier advised a large offshore oil drilling company on its US $232,500,000 tender offer to acquire all the shares in another offshore oil rig business.

Our Cayman Islands Corporate department's role was primarily to advise on the tender offer process and documentation and to conduct corporate due diligence on the target business, including its ten Cayman Islands subsidiaries. The team of partner Bradley Kruger and senior associate Ross Wilding provided corporate legal advice on the transaction as well as the associated financing arrangements.

The target company had been formed out of a bankruptcy restructuring bringing additional complexities to the process and also requiring completion within a tight timeframe -  it completed within two months of the initial instruction.