Stephenson Harwood and Australian law firm Allens have advised Singapore's Cyan Renewables, which operates vessels for offshore wind farms, on its acquisition of ASX-listed MMA Offshore for A$1.1 billion ($726 million).

MMA Offshore was represented by Australian law firm Thomson Geer, while Allens also acted for infrastructure investor Seraya Partners, which owns Cyan Renewables.

According to Reuters, this marks the largest takeover deal in wind power segment in the Asia-Pacific region so far this year.

It added that renewable companies and assets have become increasingly attractive as investors look to tap growth in the sector, driven by a global drive to transition to zero-emission economies.

Cyan Renewables, an offshore vessel portfolio company, was launched two years ago, and the deal marks its biggest investment till date. It is owned by Seraya Partners, which focuses on energy transition and digital infrastructure.

MMA has a fleet of 20 vessels operating internationally and has a presence in jurisdictions like Singapore, Taiwan, Malaysia, the UK, the Netherlands, Belgium, and the U.S.

The Stephenson Harwood team was led by shipping and offshore finance partner Jeffrey Tanner, and corporate partners Tom Platts and Jay Tai. Additional support was provided by of counsel Helen Rhind-Hufnagel and associates Christopher Madden, Joel Tan, and Anita Gill. Singapore law advice was provided by Virtus Law partner Jason Yang, with support from senior associate Angeline Yap and associate Thiyana Ilangchizian.

Additionally, local law advice on various jurisdictions was provided to Cyan by AKD (Netherlands, Belgium), Burness Paul (Scotland), Seward & Kissel (U.S.), Rahmat Lim & Partners (Malaysia), and Lin & Partners (Taiwan).

The Allens team was led by partner Noah Obradovic, and included partners Rita Pang, Kim Reid, David Donnelly, Sikeli Ratu, Annabelle Aland, and Joel Barrett.

The Thomson Geer team was led by partner Hedley Roost and included partners Michael Bowen and Cameron Forbes.