Cadeler and Eneti have announced an agreement to combine

It has been announced today that the two offshore wind companies Cadeler and Eneti are seeking to combine by way of a share exchange offer from Cadeler to the shareholders of Eneti. The combined market value of the two companies will be more than USD 1.2 billion based on the closing price on 15 June 2023.

Gorrissen Federspiel has assisted Cadeler A/S as legal adviser.

From Gorrissen Federspiel, the transaction team included Chantal P. Patel Simonsen, Johan Casper Hennings, Erik Kjær-Hansen, Ole Poulsen Tougaard, Christine Kjærgaard, Sixten Franke, Rikke Juul Hesse Rasmussen, Ember Lagden, Thomas Edelgaard Christensen and Stine Halby Hanson.

Completion of the transaction is subject to the approval of the shareholders of Cadeler A/S in relation to the share issue, acceptance of the exchange offer by the Eneti shareholders and various regulatory approvals. The combination is therefore expected to be completed during the fourth quarter of 2023 at the earliest.

Read more in the press release here.