Financing

Restructuring and insolvency law

Oil and gas

Asset Management

PURPOSEFUL RECRUITMENT AND LONG-TERM INVESTMENT

Securing competent lawyers is an ongoing project. During the last three years alone, the team has recruited several new partners from law firms such as Wikborg Rein, Thommessen, and Wiersholm, and from in-house positions in Evry and Nasdaq.

- We are very happy about Vidar Løhre, Henrik Braavold Johansen, Knut Martinsen, Per Kristian Ramsland, Susanne Munch Thore, Karl Rosèn and Odd-Harald Wasenden joining our team. Together, they possess a broad range of skills that position us very well for further growth, informs Håvard Sandnes , managing partner in Arntzen de Besche.

- It is pleasing to see such strong results from the department. The strengthening of M&A and Capital Markets has been a priority to us, he says.

In tandem with the increase in turnover, the Capital Markets team, currently comprising 7 partners and 23 lawyers, is being expanded. With office locations in Oslo, Stavanger and Trondheim, the team is well represented nationally, enabling it to combine local knowledge with legal special expertise.

The significant growth is largely a result of escalated demand from abroad, as well as Norwegian companies and financial institutions, which has given the team increasingly more complex cases to work with.

- We receive an increasing number of new assignments from abroad, while also increasing our market share among Norwegian players, which is a win-win for the firm, says Trond Kildal, head of the Banking and Financing Law department. He works with the debt side of the capital market in particular, and is frequently involved, either on the lender side or on the company side, when major financing assignments are to be placed in the Norwegian capital market.

Financing partner and colleague Vidar Løhre agrees and elaborates:

- For several years, the Norwegian capital market has been very popular among foreign players seeking favourable channels for financing. A strong network in the Nordic region, as well as globally, brings us close to the market and provides access points not available to every law firm.

With a considerable demand from both the equity market and the debt capital market, the team has assisted in several of the biggest and most prolific cases in connection with emissions, public offerings, issue of bond loans, etc.

- We are now a well-composed team with considerable expertise on capital markets. This has brought us cases with a higher level of complexity and greater value, that have also required a broad range of skills and customised teams, informs partner Per Kristian Ramsland.

- With all of the assignments, we put together teams that possess the specialist and industry expertise required to solve the assignment in a value-creating manner, adds partner Jon Martin Atkinson.

The team is currently working with major clients in oil and gas, aquaculture and fishing, the food and service industry, technology, property and transport, among other sectors.

GREATER ATTENTION TO FINANCIAL REGULATION AND COMPLIANCE

Listed companies face increasingly strict requirements and regulations from both Norwegian authorities and the EU. The regulations are both extensive and in a constant state of flux.

- In recent years, the introduction of new regulations, such as the EUs new regulations on the establishment of a framework to facilitate sustainable investment, and on sustainability‐related disclosures in the financial services sector, has constituted a game-changer for several industries and enterprises. Consequently, we have received more enquiries regarding advice on how to navigate in this landscape, states partner Susanne Munch Thore.

Simultaneously, the financial sector has been designated a key sector in the work to achieve national, regional and international sustainability goals. This has contributed to further regulations and reporting requirements regarding, for example, sustainability and anti-money laundering, which also promote a higher level of case complexity in the sector.

- Several of our lawyers have experience from banking and financial institutions and regulatory authorities, enabling them to contribute with different perspectives and ensure a good overview of a case, informs partner Karl Rosén, one of Norway’s leading lawyers within financial regulation.

Arntzen de Besche has developed a dedicated case model in order to ensure an appropriate use of time and resources. A course in project management, both in theory and practice, is central to the model and means that clients can expect skilled management of deliveries.

- Skilled project management is a key element in any transaction and our case model therefore constitutes an important tool for allocating appropriate resources to various parts of the transaction and keeping track of deadlines and costs in processes that span longer periods, says partner Henrik Braavold Johansen.

Good case management has proven useful in an increasingly busy working day. In particular following Euronext Growth’s acquisition of the Oslo Stock Exchange (Oslo Børs) in 2019, activity in the capital market has been high.

With an extensive knowledge of the industry and a network promoting the creation of lasting value, this team has both a solid growth in turnover and an increasingly strong recognition in the market among its achievements. We look forward to seeing what’s next!

Solid recruitment and strong growth for capital markets at Arntzen de Besche

Kildal helps Norwegian and international banks, financial institutions and brokerage firms in connection with various forms of financing. This includes private equity funds/acquisition financing, LBOs, project financing, refinancing, restructuring and bond loans. 

Kildal is recognised as having good insight into the commercial drivers and markets in which his clients operate. He is solutions-oriented and his accessibility is greatly appreciated by his clients.  

He is always available and pleasant to work with. As a client, you get a feeling that he sincerely cares about you.


THE ACQUISITION IS TRANSFORMATIVE FOR LIME PETROLEUM

Lime Petroleum, which was prequalified by the authorities in 2013, has primarily engaged in oil exploration. With the acquisition of the Brage field, they are also fulfilling their ambition to move from exploration to a full-cycle exploration and production company on the Norwegian shelf.

- We are delighted that Repsol has decided to divest the Brage field to Lime Petroleum. The Brage field will be transformative to the company. It will not only provide stable cash flow to Lime Petroleum, but will complement our exploration and development projects on the Norwegian continental shelf, both in terms of cash flow and technical expertise, Lars Hübert, CEO of Lime Petroleum, said in a press release from the company.

The first discoveries on the Brage field were made in 1980, while production started in 1993. Even though the Brage field has been producing for a long time, work is still underway to find new ways to improve recovery from the field.

In the press release Lime Petroleum also points out that the economy from the current production reserve base in the Brage field is robust. Several prospects related to both production and exploration drilling shows that further high value production is expected, also in the period ahead.


The core team from Arntzen de Besche acting as legal advisor to Lime Petroleum has consisted of Rune Omdahl, Rune Tjomsås Andersen, Trond Kildal  and Vidar Løhre.

Arntzen de Besche assisted Lime Petroleum with acquisition in the Brage field

Shearwater has acquired streamers and related seismic equipment for a total cash consideration of USD 50 million. The company further purchased six seismic acquisition vessels for a total consideration of USD 127.5 million.

“These investments allow us to significantly extend the commercial life of our fleet and streamer pool and to accelerate our fleet renewal program to meet regulatory and public expectations facing our industry. By extending the runway of our asset base and maintaining our scale, we are proactively strengthening Shearwater’s position to invest in new technologies and the growing seabed market,” said Irene Waage Basili, the CEO of Shearwater.

Shearwater Geoservices was established in 2016 and is headquartered in Bergen. The company is owned by Rasmussengruppen, GC Rieber Shipping, Schlumberger and Eidesvik.

Arntzen de Besche Advokatfirma AS has acted as legal advisor to Shearwater in connection with the transactions. Carnegie has acted as financial advisor and Crux Advisers has acted as communications advisor to Shearwater.

The core team from Arntzen de Besche advising Shearwater in the transaction has consisted of Lars Horgen Hinze, Trond Kildal, Erlend L. Solberg, Svein Terje Tveit, Anne Kathrine Sande, Christian Willumsen Haug, Paul G. Hagelund and Torjus Midttun Otterbech.

Shearwater Geoservices acquires streamers and vessels

Lawyer Trond Kildal specializes in financing. Learn more about Trond or contact him at +4798294632 or tki@adeb.no.

Contact information

+47 982 94 632

tki@adeb.no

+47 23 89 40 00

Areas of expertise

Financing

Restructuring and insolvency law

Oil and gas

Asset Management

Trond Kildal

News

Solid recruitment and strong growth for capital markets at Arntzen de Besche

What we have done

Arntzen de Besche assisted Lime Petroleum with acquisition in the Brage field

Shearwater Geoservices acquires streamers and vessels

Nyhetsbrev