Desai & Diwanji  advised Delhi-based oil company HAL Offshore and its investment bank Equirus Capital in a controlling stake buy-out of the BSE and NSE-listed company Seamec for around Rs 253 crore, opposite AZB.

AZB Mumbai capital markets partner Shameek Chaudhuri and senior associate Rinki Ganguly acted for Seamec.

Equirus and HAL instructed Desai & Diwanji capital markets partner Srishti Ojha, senior associates Ajai Achuthan and Sonal Rangnekar and associates Pracheta Bhattacharya and Ankesh Jain.

Seamec is a part of French group Technip and provides vessel-based diving support services and is part of the French group Technip. Ambit Corporate Finance Partners were the investment bankers to Seamec.

The deal has an open offer component which commenced with the execution of the share purchase agreement and filing of the takeover code-related public announcement to the exchanges yesterday, reported Mint.