Haavind advises CGG on complex marine fleet restructuring
Haavind has advised the French leading geoscience company CGG with all aspects of its Marine fleet restructuring in Norway, including the establishment of a joint venture with its longstanding partner Eidesvik Offshore ASA.
Haavind has advised the French leading geoscience company CGG with all aspects of its Marine fleet restructuring in Norway, including the establishment of a joint venture with its longstanding partner Eidesvik Offshore ASA.
The main purpose of the comprehensive restructuring by CGG was to establish a new ship owning joint venture structure, including a holding company and two ship owning entities comprising in total seven seismic vessels. The successful restructuring required considerable corporate reorganisations both within and outside the current structure.
“Haavind has recently advised on several restructurings and this complex assignment definitely reflects our role as the up-and-coming Norwegian law firm within restructuring.” Hans-Christian Donjem, lead partner
Haavind has together with Linklaters advised CGG on all aspects of this complex restructuring, including establishing new corporate structures, sale and purchase of companies, capital increases, amendments to existing credit facilities agreements and other material agreements.
Haavind’s team was led by associate partner Hans-Christian Donjem with support from other lawyers from Haavind’s Corporate group and Banking & Finance group.
Lead partner Hans-Christian Donjem commented: “We are delighted to have been able to assist CGG with a successful restructuring which will enable them to succeed with their future operations. We have worked closely with CGG and are impressed by their knowledge and abilities.”