AZB & Partners acted for Catcha Investment Corp (a publicly traded special purpose acquisition company – SPAC) in successfully executing a business combination with Crown LNG Holding AS (Crown LNG), making the PubCo, i.e., Crown LNG Holdings Limited, a publicly listed company on the New York Stock Exchange with a pre-money valuation of Crown LNG Holdings Limited at approximately US$ 600 million. Crown LNG is a leading provider of liquified natural gas (LNG) liquefaction and re-gasification terminal technologies for locations where onshore facilities are not feasible or desirable for reasons of harsh weather, safety, cost, or environmental impact. Through this approach, Crown LNG aims to provide lower carbon sources of energy securely to under-served markets across the world.
The Kakinada Project is the first gravity-based structure re-gasification unit in India and once implemented, will directly support Government of India’s target of increasing natural gas in the country’s energy mix by upto 15% by 2030.
Our deal team was led by our Senior Partners Darshika Kothari and Anuja Tiwari. On the projects and regulatory side, we had our Partner Mallika Anand, Senior Associate Sumi Trivedi, Associates Aman Raj, Munmun Kadam and Siddhanth Mitra. On the corporate side, we had our Senior Associate Devika Nayak, Associates Aayushi Rout, Anushka Mehta and Disha Mantry.