Catcha Investment has agreed to combine with Crown LNG based on a pre-money valuation of approximately $600 million, and a pro forma enterprise value of the combined company at $685 million.
The target is a provider of LNG liquefaction and regasification terminal technologies for harsh weather locations. Crown is active in the two critical parts of the LNG value chain: liquefaction, where natural gas from producers is supercooled to a liquid for transport by ship as LNG; and regasification, where the LNG is turned back into gas and delivered to consumers and businesses as natural gas.
The transaction is expected to provide $50 million of capital, with net proceeds going to fund the company’s Kakinada and Grangemouth projects to final investment decision.
Catcha’s current deadline extension gives it until February 2024 to complete a deal.
Catcha raised $275 million in a Februrary 2021 IPO to target companies with operations or prospective operations in the technology, digital media, financial technology, or digital services sectors across Asia Pacific, in particular Southeast Asia and Australia. Read more.
