Allens has advised global private investment manager Seraya Partners and its portfolio company Cyan Renewables on their proposed acquisition of marine and subsea services provider MMA Offshore Limited for an implied equity value of $1.1 billion.
The deal sees Cyan Renewables acquire 100% of the MMA Offshore Group for $2.70 per share by way of scheme of arrangement. It marks the largest take-private deal in the offshore wind energy services industry in the Asia Pacific region, underscoring the sector's crucial role in achieving net zero goals.
'We are pleased to have drawn upon our market-leading M&A and private equity capabilities, as well as leveraged finance, FIRB and regulatory, and sector expertise in the energy transition to advise Seraya and Cyan on the successful execution of a highly complex and global transaction,' said lead Partner Noah Obradovic.
'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 advised on all aspects of the deal, including strategic approach, structuring, due diligence, leveraged finance, transaction documents and the Court process.
