Ogier advises on US$650 million marine geophysical company acquisition

Ogier has advised Shearwater GeoServices on the BVI legal aspects of its US$650 million acquisition of WesternGeco, forming a market leading marine geophysical company.

An Ogier team led by partner Simon Schilder – including senior associate Marie-Claire Fudge – advised on the BVI law aspects of the purchase, alongside lead counsel CMS Cameron McKenna Nabarro Olswang LLP.

The combined business will own and operate a fleet of 14 fully equipped seismic surveying vessels and will employ around 600 people across the world.

Shearwater GeoServices is a joint venture between major Norwegian shipping firms GC Reiber and Rasmussengruppen.

Simon Schilder said: "We are pleased to have advised on the BVI aspects of this deal, that creates a new market leading presence in marine geophysics. The use of a BVI holding vehicle to hold part of the business acquired continues to underscore the popularity of the use of BVI structures in global businesses operating within this sector."