UK: Allen & Overy lead on US$664m cross-border drilling merger

Allen & Overy (A&O) and King & Spalding have taken lead roles on the £660 million (US$916.8 million) merger of oil drilling contractors KCA Deutag and Dalma Energy.

Aberdeen-headquartered KCA Deutag has agreed to merge with Oman-based Dalma Energy, a deal that will create a combined company operating 100 rigs across Africa, Europe, Russia, the Middle East, the Caspian Sea, Southeast Asia and the Americas.

A&O is advising KCA Deutag, with London corporate partner David Broadley in the lead role. The magic circle firm’s team also includes finance partners James Graham and Kevin Muzilla.

Broadley is also part of the A&O team currently advising 21st Century Fox on UK corporate aspects of Disney’s acquisition of most of the company’s assets, in a deal valued at about US$52.4 billion. He has advised on a number of other high-profile matters in recent years, including payment processing group Worldpay’s 2015 initial public offering.

Full Content: Legal Week

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