Ashurst advised Oxford Instruments, a leading provider of high technology tools and systems for industry and research, on its joint venture with GDI to create the world's largest player in the highly specialised Ultra High Vacuum Surface Science field. The joint venture comprises Oxford Instruments' Omicron NanoTechnology and its associated subsidiaries and GDI's Scienta Scientific and associated subsidiaries.

Oxford Instruments has transferred all of its shares in Omicron to Scienta, in consideration for new shares in Scienta. Oxford Instruments and GD now, respectively hold 47% and 53% in the share capital of Scienta.

Oxford Instruments has provided a term loan of SEK 40 million to the joint venture.

The Ashurst team was led by London corporate partner Nick Bryans, assisted by senior associate James Fletcher, associate Braeden Donnelly, and trainees Emma Camilleri and Sara Hamzawi. Counsel Fabian von Samson-Himmelstjerna, senior associate Philip Cavaillès and associate Philip Schmidt from the Ashurst Frankfurt office advised on the German corporate law aspects of the transaction. Partner Pontus Bergsten and senior associate Erica Hegerin from the Ashurst Stockholm office advised on the Swedish corporate law aspects of the transaction.

The Ashurst London finance team was led by Tim Rennie, assisted by associate Luke Philpot and trainee Emma Bernstein. Ashurst London partner Alex Cox provided tax advice on the transaction. Partner Heiko Penndorf and senior associate Felix Krüger from the Ashurst Frankfurt office advised on the German tax law aspects of the transaction. Partner Mark Lubbock and associate Caroline Hogan from the London office provided intellectual property advice.