Texas lawyers saw some action from Transocean Ltd.’s $3.4 billion acquisition of Norway’s Songa Offshore announced Tuesday – a deal characterized as the biggest offshore drilling sector merger since oil prices collapsed in 2014.
Transocean General Counsel Brady Long selected King & Spalding as the company’s lead U.S. legal adviser on the deal. While many of the attorneys are based in Atlanta, partners Martin Hunt and Jeff Malonson played key roles in the transaction.
A team within Transocean’s corporate legal department – including senior associate general counsels Daniel Ro-Trock and David Faure in Houston, senior counsel Sandro Thoma in Switzerland, where Transocean is domiciled, senior legal counsel Hazel Meek in Aberdeen and division counsel Gerald “Jerry” Baca in Houston – had a hands-on role in the deal.
Hunt, who has offices with King & Spalding in London and Houston, handled international issues and coordination with lawyers in various jurisdictions throughout the world on local law issues.
Long and Hunt worked together at Bracewell before Long began working in-house at various oilfield services companies, including Pride International and its acquirer Ensco. Hunt jumped to K&S in 2011.
Malonson joined K&S from Vinson & Elkins last year.
K&S has been busy recently adding corporate talent to its Houston office, which is led by environmental partner Tracie Renfroe.
In June, the firm lured away oil and gas lawyer Peter Hays from Morgan, Lewis & Bockius. That followed the signing of four partners from Andrews Kurth – David Runnels, Darren Inoff, Jason Peters and Cindy Lin – and two from Bracewell – Stuart Zisman and Roxanne Almaraz – earlier in the year.
Clarksons Platou Securities AS was Transocean’s financial adviser and Wikborg Rein advised it on Norwegian law. Pareto Securities AS was Songa Offshore’s financial adviser while Advokatfirmaet Schjødt AS was its Norwegian legal adviser and Cleary Gottlieb Steen & Hamilton was its U.S. legal adviser.