Demerger and sale of shares in HitecVision to Watrium
On 9 July, 2019, the Gjedebo family, through its investment firm Styrbjørn AS (“Styrbjørn”), completed the sale of its indirect equity in HitecVision to Watrium AS (“Watrium”). The transaction comprised of a reorganisation and demerger of the direct shareholder Real Capital AS (“Real Capital”) into two separate entities, followed by a sale of shares in the two entities from the Gjedebo family to Watrium.
HitecVision is Europe’s leading provider of institutional capital to the North Sea region’s energy industry, focusing on cutting-edge industrial companies. Since 2002 HitecVision has established, acquired or invested in over 150 companies in the offshore energy industry.
Grette acted as the exclusive legal advisor, providing comprehensive M&A strategic advice and assistance, including term negotiations, the outlining of strategy for the restructuring phase, the negotiation and framing of a reorganisation agreement between the existing Real Capital shareholders, tax consultancy, SPA negotiations and the subsequent implementation of the demerger prior to closing. Moelis & Company acted as the exclusive financial advisor.
The successful execution of the sale involved several shareholders and HitecVision as the subject of sale. Representing the seller, Grette held a key role as the coordinator and facilitator of the transaction.