Ashurst is advising Lamprell plc on its US$336.1 million offer for Maritime Industrial Services (MIS), its US$225.1 million 3 for 10 rights issue and new US$305 million facilities agreement, the proceeds of which will in part be used to fund the acquisition of MIS. The rights issue is fully underwritten by J.P. Morgan Cazenove, Merrill Lynch International and HSBC Bank plc.

Lamprell is a leading provider of specialist engineering services to the international oil an gas and renewables industry based in the UAE. MIS is a diversified engineering and contracting group based in Sharjah in the UAE and is listed on Oslo Børs.

Ashurst’s Nick Bryans had previously advised J.P. Morgan Cazenove on Lamprell’s IPO on AIM in 2006 and on its subsequent move-up to the Main Market in 2008.

The Ashurst team advising Lamprell was led by London corporate partner Nick Bryans and Abu-Dhabi based partner Alastair Holland, assisted by associates Sian Williams and Chris Phillips. US partner Ray Fisher and senior associate Jeffrey Johnson also advised, together with London based employment benefits and incentives partner Paul Randall. London partner Nick Benham assisted by senior associate Mark Edwards advised on the new credit facilities.