Cadeler A/S and Eneti Inc. Announce Launch of Share Exchange Offer for All of The Outstanding Shares of Common Stock of Eneti Inc. - Seite 2

Cadeler’s management anticipates that the business combination will deliver annual synergies of €106 million, excluding transaction, change of control and integration costs, to enable meaningful shareholder value creation.

The flexibility and size of the combined fleet will bring numerous possibilities to increase efficiency in the market. The Cadeler commercial strategy to-date provides a degree of revenue certainty through 2027 and coverage of operating costs. Coupled with the open days on the Eneti fleet, the combined company will further service the existing partner base and benefit from high tender activity and a growing market.

Mr. Mikkel Gleerup, CEO of Cadeler said: “The combination will represent a significant step up in our ability to meet the increased demand globally for projects with larger scopes and project sizes in service of the much-needed green transition. To deliver on this ambition, we will provide our customers with the largest and most diverse fleet in the industry, operated by highly skilled teams with unique expertise and track records. Particularly in light of increasing value chain bottlenecks, the combined scale and fleet diversity will unlock unrivalled value for our customers, due to increased cross-utilization of resources and improved flexibility, capacity, and agility”.
  
The Offer is being made on the terms and subject to the conditions and procedures set forth in the Prospectus/Offer to Exchange, dated November 7, 2023 (the “Prospectus/Offer to Exchange”), and in the related letter of transmittal, together with any amendments or supplements thereto.

Prior to completion of the Offer, the two companies will continue to operate separately of one another.

Conference Call on November 8, 2023 at 9:00 a.m. ET / 3:00 p.m. CET
Cadeler will host a conference call on November 8, 2023 at 9:00 a.m. ET / 3:00 p.m. CET.

Those wishing to listen to the call should dial 1 [phone] (U.S.) or 1 [phone] (International) at least 15 minutes prior to the start of the call to ensure connection. The information provided on the teleconference is only accurate at the time of the conference call, and Cadeler will take no responsibility for providing updated information.

There will also be a simultaneous live webcast over the internet. Participants to the live webcast should register on the website approximately 15 minutes prior to the start of the webcast.

Please see below webcast link. The link will also be made available on the Cadeler website.

https://edge.media-server.com/mmc/p/mpcmsd68