The combined company will be listed on the New York Stock Exchange. Credit: Tudor Dimitriu from Pixabay.

Crown LNG, a provider of offshore liquefied natural gas (LNG) terminal infrastructure solutions for harsh weather locations, has agreed to a merger with Catcha Investment in a deal that makes the pro forma implied enterprise value of the combined company $685m (€626.03m).

Catcha Investment is a special purpose acquisition company.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Currently, Crown is developing two infrastructure projects in Kakinada, India, and Grangemouth, Scotland.

The Kakinada project, which uses gravity-based structure, supports the Indian Government’s aim to increase natural gas in its energy mix to 15% by 2030 from 7% currently.

Crown said that the Kakinada project’s preliminary front-end engineering and design studies have been completed.

Located on the east coast of Scotland, the Grangemouth project is expected to address the country’s growing drive for energy security due to the impact of Russia-Ukraine conflict on energy markets.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The deal is expected to provide $50m of capital, with the net proceeds used to fund the two projects in India and Scotland to final investment decision.

Crown CEO Swapan Kataria said: “This business combination with Catcha is a transformative step for accelerating Crown’s growth, with the aim to provide its investors with a stable, long-term return on their investment.

“The capital raised in this transaction will further strengthen our ability to execute on our diversified project pipeline in India, the UK, Vietnam, Canada and other global markets.”

The combined company, which will be named Crown LNG Holdings Limited, is due to be listed on the New York Stock Exchange.

Subject to customary closing conditions, the transaction is scheduled for completion during the fourth quarter of 2023.