Latham & Watkins Advises on CoolCo's Acquisition by EPS Ventures
CoolCo and EPS Ventures Ltd announced that the Board of Directors of CoolCo has approved a transaction under which EPS will acquire all of the outstanding shares of CoolCo that are not already held by EPS in exchange for US$9.65 in cash per common share. The transaction will be implemented through a merger of a wholly-owned subsidiary of EPS with and into CoolCo. The US$9.65 per share acquisition price represents a 26% premium to the closing price on September 22, 2025, and a 38% premium to the volume weighted average share price of CoolCo’s common shares for the 90 trading day period through September 22, 2025. The merger is expected to close during the fourth quarter of 2025 or the first quarter of 2026, subject to approval of the transaction by holders of a majority of the common shares of CoolCo and the satisfaction of certain other customary closing conditions.
Latham & Watkins LLP represents the Special Committee of the CoolCo Board of Directors in the transaction with a corporate team led by New York partner Robert Katz and London partners Sam Newhouse and Doug Abernethy, with associates Kyle Adams, Junhan Zhang, William Anderson, and Reina Kern. Advice was also provided on US tax matters by Chicago partner Rene de Vera, with associate Jeremiah Cowen; on UK tax matters by London partner Karl Mah, with associate Mimi Kyprianou; on employee benefits matters by New York partner Austin Ozawa and Chicago counsel Leah Segall, with associate Drew Baker; on labor and employment matters by Chicago partner Nineveh Alkhas, with associate Elizabeth Duncan; on intellectual property matters by New York partner Jessica Cohen, with associate Ece Gonulal; on data privacy and cybersecurity matters by Bay Area partner Robert Blamires, with associate Kathryn Parsons-Reponte; on capital markets matters by associates Kaj Nielsen and Rachel Collier; on anti-corruption and anti-bribery matters by Washington, D.C. partner Joseph Bargnesi, with associate Catherine Yao; on trade controls matters by associates C.J. Rydberg and Elliot Hecht; and on FDI matters by Hamburg partner Jana Dammann de Chapto.