Fugro N.V. (AMS:FUR) and Global Marine Holdings LLC (“GMG”) recently signed an agreement under which GMG will acquire Fugro’s trenching and cable laying business in exchange for an equity stake of around 24% in the combined business, valued at US$ 65 million, and a one year secured vendor loan of US$ 7.5 million. R&P China Lawyers acted as Fugro’s PRC legal counsel on this transaction.
Fugro is the world’s leading, independent provider of geo-intelligence and asset integrity solutions. Fugro acquires and analyses data on topography and the subsurface, soil composition, meteorological and environmental conditions, and provides related advice.
GMG is a leading global supplier of subsea cable installation and maintenance services. The company has several longstanding partnerships which include SB Submarine Systems (a joint venture with China Telecom) as well as Huawei Marine Networks (a joint venture with Huawei Technologies). The NYSE-listed diversified holding company HC2 Holdings, Inc. (NYSE: HCHC) is the majority owner of GMG.
R&P frequently supports clients on mid-market M&A deals, divestments and restructurings. Please contact us for more information; for details on this deal please visit: