Brief: Cadeler, Eneti Sign Business Combination Agreement

Cadeler A/S

16/06/2023 06:56

June 16 (Reuters) - Cadeler A/S  CADLR.OL :
    * CADELER A/S AND ENETI INC. SIGNS BUSINESS COMBINATION
AGREEMENT
TO CREATE A LEADING OFFSHORE WIND TURBINE AND FOUNDATION
INSTALLATION COMPANY
    * FOLLOWING COMPLETION OF EXCHANGE OFFER, CADELER AND ENETI
SHAREHOLDERS WILL OWN ABOUT 60% AND 40% OF COMBINED COMPANY,
RESPECTIVELY
    * HAVE ENTERED INTO A BUSINESS COMBINATION AGREEMENT TO
COMBINE
THROUGH A STOCK-FOR-STOCK EXCHANGE OFFER
    * EXCHANGE OFFER TO BE MADE TO ALL STOCKHOLDERS OF ENETI
BASED ON
AN EXCHANGE RATIO OF 3.409 CADELER SHARES FOR EACH ENETI SHARE
    * COMBINED GROUP WILL BE NAMED CADELER
    * BUSINESS COMBINATION AGREEMENT HAS BEEN UNANIMOUSLY
APPROVED BY
BOD OF EACH OF CADELER AND ENETI
    * MIKKEL GLEERUP, CURRENT CEO OF CADELER, WILL CONTINUE AS
CEO OF
COMBINED COMPANY AND PETER BROGAARD HANSEN WILL CONTINUE AS CFO
OF COMBINED COMPANY
    * VOLUNTARY CONDITIONAL REGISTERED EXCHANGE OFFER HAS
EXCHANGE
RATIO OF 3.409 CADELER SHARES FOR EACH ENETI SHARE

Source text for Eikon:  ID:nObiZg8Dba 
Further company coverage:  CADLR.OL 

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