We advised Cadeler on the transaction

Davis Polk advised Cadeler A/S on the merger of its wholly owned subsidiary, Wind MI Limited, with Eneti Inc. to complete the previously announced combination of the two businesses and create a leading offshore wind turbine and foundation installation company. The all-cash merger followed a stock-for-stock exchange offer made by Cadeler to all shareholders of Eneti. Completion of the merger followed a special meeting of Eneti’s stockholders held on December 29, 2023, at which Eneti’s stockholders voted in favor of the proposal to authorize and approve the merger. The combined company retains the Cadeler name and is listed on both the New York Stock Exchange and the Oslo Stock Exchange.

Cadeler is a key supplier to the offshore wind industry of installation services and operation and maintenance works, providing marine and engineering operations with a strong focus on safety and the environment. Cadeler enables and facilitates the global energy transition towards a future built on renewable energy.

The Davis Polk corporate team included partner Connie I. Milonakis, counsel Alexander W. Simmonds and associates Christopher Diel and Despoina Arslanidi. Counsel Alon Gurfinkel and associates Kelli A. Rivers and Ya Sheng Lin provided U.S. tax advice. All members of the Davis Polk team are based in the London office.