Search News & Insights
Matheson advising Weatherford on its corporate re-domiciliation from Switzerland to Ireland
Matheson is advising Weatherford International Ltd. on the Irish legal and tax aspects of its corporate re-domiciliation from Switzerland to Ireland, which was announced on 2 April 2014. Weatherford is one of the world’s largest multinational oilfield service companies with a market capitalisation of approximately US$13.1 billion.
The re-domiciliation, which is subject to shareholder approval, involves merging the current Swiss parent company of the Weatherford group into a newly formed Irish company. As a result of the merger, the Irish company will become the publically-traded parent of the group with its shares being listed on the NYSE.
The Matheson team advising on the re-domiciliation is being led by corporate partners Pat English and Fergus Bolster as well as tax partner Joseph Duffy and John Ryan, the head of Matheson’s US offices. This continues Matheson’s track record of advising on major transactions involving global companies which are listed in the US. Matheson recently advised the US pharmaceutical firm Actavis plc on its $8.5 billion acquisition of Dublin-based Warner Chilcott, which completed on 1 October 2013.
Corporate partner Fergus Bolster said, “This transaction illustrates the attractiveness of Ireland as a parent company jurisdiction for large US listed multinational corporations seeking to achieve an appropriate balance between the practicalities of day-to-day management, solid shareholder rights and robust corporate governance within a stable and well-developed legal and regulatory environment.”