Ogier advises Crown LNG Holdings AS on its US$685 million business combination with Catcha Investment Corp.

A cross-border Ogier team has advised Crown LNG Holdings AS on its US$685 million business combination with Catcha Investment Corp, a publicly traded special purpose acquisition company. The deal signed on 3 August 2023 and is subject to certain regulatory and other customary closing conditions.

Ogier acted as Jersey and Cayman Islands counsel to Crown LNG Holdings AS (Crown), a leading provider of offshore LNG liquefaction and regasification terminal infrastructure for harsh weather locations, in connection with its entry into a business combination agreement with Catcha Investment Corp. Crown designs and plans to own and operate offshore LNG terminals in locations where onshore facilities are not feasible or desirable for reasons of harsh weather, safety, cost, or environmental impact.

On consummation of the transaction, the combined company intends to apply to list its shares on the New York Stock Exchange. The pro forma implied enterprise value of the combined company will be approximately US$685 million and the transaction is expected to provide approximately US$50 million of capital with net proceeds funding development projects in India and Scotland to final investment decision.

The Ogier Cayman Islands team was led by partner Cynthia Anandajayasekeram, with managing associate Tom McLaughlin and associate Thomas Sims. The Ogier Jersey team was led by partners Raulin Amy and Alexander Curry, with managing associate Rebekah Agyeman and associate Juliet Karugahe.

"It is a pleasure to have assisted Crown on this important milestone for the company. This is yet another example of Ogier's ability to provide seamless advice across numerous jurisdictions on a high-profile and fast-moving transaction," said Raulin.