$1.1bn deal is the largest take-private deal in the offshore wind energy services industry in APAC
Allens has assisted global private investment manager Seraya Partners and its portfolio company Cyan Renewables with its acquisition of marine and subsea services provider MMA Offshore Limited in a deal described by the firm as “the largest take-private deal in the offshore wind energy services industry in the Asia-Pacific region”.
Under the transaction, Cyan Renewables picked up 100% of MMA Offshore Group’s shares at $2.70 per share through a scheme of arrangement. The deal assigns an implied equity value of $1.1bn to MMA Offshore Group.
“The transition to sustainable energy is a global and multifaceted challenge that presents significant opportunities for private capital. This acquisition provides Cyan with exposure to Asia as it builds a leading global energy transition-focused offshore marine business”, Allens lead partner Noah Obradovic said.
Obradovic and his team provided guidance on all aspects of the deal, including strategic approach, structuring, due diligence, leveraged finance, transaction documentation, and the court process. The team consisted of the following:
M&A and capital markets
Banking and finance
Court process
Projects and regulatory
Employment
Real estate
IP
