(Law.asia) Firms act on USD726m offshore wind energy M&A deal

1 August 2024 - Law.asia Limited: The Stephenson Harwood (Singapore) Alliance, Allens and Thomson Geer have acted on Cyan Renewables’ AUD1.1 billion (USD726 million) take-private acquisition of MMA Offshore, a Perth-based ASX-listed global offshore wind vessel support company.

Cyan Renewables will acquire 100% of MMA Offshore for USD2.70 per share through a scheme of arrangement in one of the largest public M&A deals in the Asia-Pacific’s decarbonisation space.

Stephenson Harwood served as co-adviser to Cyan Renewables, led by shipping and offshore finance partner Jeffrey Tanner, and corporate partners Tom Platts and Jay Tai. Further advice on Singapore law was provided by Virtus Law partner Jason Yang, additional jurisdictional counsel came from AKD (Dutch and Belgian law), Burness Paull (Scots law), Seward & Kissel (US law), Rahmat Lim & Partners (Malaysian law) and Lin & Partners (Taiwanese law).

Allens was at the forefront advising Seraya Partners and its portfolio company Cyan Renewables on the Australian law aspects of the acquisition. The firm’s team was led by M&A and capital markets partner Noah Obradovic with partners Rita Pang, Kim Reid, David Donnelly, Sikeli Ratu, Annabelle Aland and Joel Barrett.

Thomson Geer provided legal counsel to MMA Offshore, supporting the company through the court approval process, and tax and Foreign Investment Review Board advice. Partner Hedley Roost led the team with partners Michael Bowen and Cameron Forbes.

Cyan Renewables is Asia’s first offshore wind vessel operator owned by Singapore private equity fund, Seraya Partners, focused on energy transition and digital infrastructure.

MMA operates 20 vessels around the world supporting energy and offshore renewables projects, governments and other coastal infrastructure. The company, based in Perth, has a global presence in Singapore, Taiwan, Malaysia, UK, the Netherlands, Belgium and the United States.

(Source: Law.asia Limited: https://law.asia/offshore-wind-energy-ma-deal/)

Enquiries: corporatecomms@cyanrenewables.com

Related:

SH, Allens act on $726 mln offshore wind energy take-private (Asian Legal Business《亚洲法律杂志》, 29 July 2024)

Ashurst represented AIMCo in the investment in the largest APAC Platform for Offshore Wind Energy Services (The National Tribune Australia, 5 Aug, 2024)

Ashurst Represents AIMCo in Major APAC Offshore Wind Deal (www.miragenews.com, 5 Aug 2024)