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11 February 2014

Mouaimis & Mouaimis advises U.C.E. Synttech Holdings Limited on its cash offer for IG Seismic Services Plc

Mouaimis & Mouaimis and Latham & Watkins have advised U.C.E. Synttech Holdings Limited, a company incorporated in Cyprus, on its cash offer for IG Seismic Services Plc. The deal marks the first time that the UK Takeover Panel has shared jurisdiction with the Cyprus Securities and Exchange Commission on a takeover offer. The offer is for a Cypriot company with operations in Russia and global depositary receipts listed on the London Stock Exchange. IGSS is a land and transition zone seismic company, providing seismic acquisition, data processing and interpretation services. It services clients primarily in Russia and the CIS (including Kazakhstan, Azerbaijan and Uzbekistan). The offeror, UCE Synttech Holdings Limited, is controlled by Mr. Nikolay Levitskiy, the current chief executive officer of IGSS. The offer values the whole of IGSS's existing issued share capital at approximately USD312.5 million. Mouaimis & Mouaimis team was led by Michalis Mouaimis a corporate partner.