Cadeler to squeeze out last Eneti shareholders in $1.2bn merger to create world's biggest wind installer

BW Group-backed offshore wind vessel owner Cadeler has completed its $1.2bn merger with Scorpio Group’s Eneti to create the world’s biggest owner of wind turbine installation vessels (WTIV).

The acceptance level hit 86% as the offer expired on Thursday. Oslo-listed Cadeler will now squeeze out the remaining shareholders to take 100% control of US-listed Eneti, in accordance with Marshall Islands law.