Copenhagen-headquartered offshore wind installation player Cadeler is looking to switch the corporate domicile of its parent company to the UK as structure optimisation presses on after a merger with Eneti.
The BW Group and Scorpio-backed shipowner said it has launched a detailed feasibility study, including a review of legal, tax and other considerations, but the final decision regarding the move has yet to be made.
“Cadeler has made the preliminary assessment that a redomiciliation of its parent company to the UK would improve the marketability of the Cadeler Group and encourage a broader and more diversified international investor base, as the UK’s legal system, corporate governance practices and tax regime, in combination, are familiar to the Group’s international investor base after the business combination and offer substantial benefits,” the company said in a stock exchange filing.
With four vessels on the water and seven newbuilds entering the fleet in the coming years, Cadeler said the redomiciliation, potentially taking place in the first half of 2025, should not have any impact on the company’s current Oslo and New York stock exchange listings.
“It is Cadeler’s expectation that such a redomiciliation would support its business strategy generally, including by facilitating the greater physical presence of its executive management in the UK and elsewhere in the markets in which the Cadeler Group operates,” the company added.
