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US-listed company completes cross-border merger with Australian renewable energy company

American special purpose acquisition company (SPAC) Nabors Energy Transition Corp has been advised on its US$586 million cross-border merger with leading Australian renewable energy company Vast Solar.

user iconJerome Doraisamy 16 March 2023 Big Law
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American special purpose acquisition company (SPAC) Nabors Energy Transition Corp has been advised on its US$586 million cross-border merger with leading Australian renewable energy company Vast Solar.

Firm: King & Wood Mallesons (Nabors Energy Transition Corp (NETC))

Deal: KWM has advised NETC on its entry into a business combination with Vast Solar, which produces concentrated solar thermal power, delivering clean, dispatchable power and heat and green fuels.

 
 

“The combined entity will be named Vast Limited and, as part of the transaction, Vast is expected to be listed on the New York Stock Exchange while remaining headquartered and incorporated in Australia,” KWM noted in a statement.

Area: Corporate, financial services

Value: US$586 million

Key players: The KWM team was led by partners David Friedlander and Nicola Charlston, who were supported by senior associate Richard Hanson and solicitors Clare Magee and Stephen Catros, partner Berkeley Cox and solicitor Trishala Shah, partner Greg Protektor, partner Angela Weber and solicitor Jedda Bamford.

Deal significance: Ms Charlston said: “We’re delighted to have advised NETC on this market-leading transaction.

“This deal is indicative of the continued interest we are seeing in major energy and resources companies developing their capabilities in the renewable energy space, and it will be great to have another Australian company listed on NYSE.”

Jerome Doraisamy

Jerome Doraisamy

Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.

You can email Jerome at: This email address is being protected from spambots. You need JavaScript enabled to view it.