Allens has advised global private investment manager Seraya Partners and its portfolio company Cyan Renewables on their 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.
Allens legal team
M&A and Capital Markets
Noah Obradovic (Partner), Andrew Wong (Mergers & Acquisitions Counsel), Katherine Tsatsaklas (Senior Associate), Angela Zhangbao (Associate), Moussa Mourad (Associate), Chris Yuan (Associate), Sara Heckhoff (Lawyer) and Renee Preketes (Lawyer)
Banking & Finance
Rita Pang (Partner), Nick Swart (Managing Associate), Angela Lambros (Associate) and Catherine Thomas (Lawyer)
Court Process
Kim Reid (Partner), Lilli Vos (Associate) and Ruby Ford (Lawyer)
Projects & Regulatory
David Donnelly (Partner), Dimity Brown (Senior Associate), Tessie Chang (Associate), Madeleine George (Associate) and Soha Refaat (Associate)
Employment
Sikeli Ratu (Partner) and Ruby Evans (Lawyer)
Real Estate
Annabelle Aland (Partner), Lauren Cutuli (Senior Associate), Peter Brennan (Senior Associate) and Elysia Liekefett (Senior Associate)
Intellectual Property
Joel Barrett (Partner) and Max Jones (Senior Associate)