GeoSea, a subsidiary of DEME Group specialising in complex offshore marine construction projects, is acquiring all of HOCHTIEF's offshore assets. The company, which has been operating successfully in the fields of dredging, offshore and marine construction for decades, is acquiring all construction vessels and pontons from HOCHTIEF, including the heavy-lift jack-up vessel Innovation, one of the largest construction vessels in the offshore industry.  Moreover, GeoSea offers to continue to employ HOCHTIEF staff.

Completion of the acquisition is subject to the customary conditions, including clearance by the cartel authorities.
 
The Allen & Overy team was led by partner Dr. Nicolaus Ascherfeld, who was assisted by associates Max Landshut, Dr. Sebastian Remberg, Dr. Mirka Sagemann, counsel Marie-Luise von Buchwaldt and senior associates Dr. Rüdiger Klüber and Dr. Dorothea Tachezy (all corporate/M&A, Hamburg).

Specialist advice was provided by partner Dr. Franz Bernhard Herding and associates Fatih Coskun and Lennart Lautenschlager (banking and finance, all Frankfurt), partner Dr. Ellen Braun, senior associate Dr. Tim Schaper, associates Vera Thiemann and Evelyn Graß (antitrust, all Hamburg), partner Markulf Behrendt and associates Sören Seidel and Dr. Wolfgang Wittek (employment, alle Hamburg) and partner Dr. Jens Matthes (IP, Düsseldorf).