Vast Solar will likewise be listed in the NYSE while retaining headquarters in Australia
Gilbert + Tobin (G+T) has advised renewable energy company Vast Solar on its merger with US-listed company Nabors Energy Transition Corp. (NETC).
Vast Solar is an Australian renewable energy company developing concentrated solar power (CSP) systems to generate, store and dispatch carbon-free, utility-scale electricity and industrial heat and to enable the production of green fuels. The company utilises a proprietary, modular sodium loop to capture and convert solar heat into end products efficiently.
NETC is a special purpose acquisition company (SPAC) listed with the New York Stock Exchange (NYSE). Vast will likewise be listed on NYSE, while retaining its headquarters in Australia as a result of the merger.
NETC is a corporation that identifies solutions, opportunities, companies or technologies that focus on advancing energy transition. NETC is an affiliate of Nabors Industries, Ltd., a leading provider of advanced technology for the energy industry. NETC’s core competencies include drilling, engineering, automation, data science and manufacturing.
G+T corporate advisory partner David Josselsohn; partner Elizabeth Cameron; special counsel Lucy Hall; and lawyers Simon Goedhals, Matthew Scrocca, Mary Brady and Charlie Wheatley were part of the team that advised on the deal. They were supported by tax partner Mark Goldsmith, lawyer Matthew Charman, banking and projects partner Robert Trowbridge, lawyer Stephanie Cook, tech and IP partner Anna Smyth, and lawyer Vincent Floro.
“We are pleased to have assisted our long-standing client Vast Solar on this transformative transaction and look forward to seeing this leading Australian renewable energy company continue its great work in the clean energy space,” Josselsohn said.
G+T corporate advisory team also advised Afterpay on its $39bn acquisition by Block, Inc. and UniSuper on its involvement in the US$24bn takeover of Sydney Airports. The firm has also worked with the PowAR consortium on its $3bn acquisition of Tilt Renewables, and Macquarie Infrastructure and Real Assets and its managed funds on the $3.5bn acquisition of Vocus Group Limited by a scheme of arrangement.
