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An Italian natural gas producer, AleAnna Energy LLC, announced on Wednesday its plan to merge with Swiftmerge Acquisition Corp., a Nasdaq-listed special purpose acquisition company (SPAC). This strategic move aims to accelerate AleAnna's transition to clean energy, with legal counsel provided by Haynes and Boone LLP and Greenberg Traurig LLP.

AleAnna Energy, with joint headquarters in Dallas and Rome, signed a definitive merger agreement with Swiftmerge. While the financial terms were not disclosed, the merger is poised to significantly enhance AleAnna's capabilities and growth trajectory in the clean energy sector.

Haynes and Boone LLP is advising AleAnna, with a team led by partners Jennifer Wisinski, Stephen Grant, and Brent Beckert. On the other side, Greenberg Traurig LLP is serving as legal counsel to Swiftmerge, a SPAC formed in 2021 to facilitate mergers for companies seeking an alternative route to going public.

AleAnna is known for producing both conventional and renewable natural gas, contributing to Italy's energy needs, which largely depend on imports. Marco Brun, CEO of AleAnna, emphasized that the merger and subsequent Nasdaq listing would "enable us to accelerate our growth, strategy, and, most importantly, our mission of responsibly advancing the clean energy transition."

As part of the deal, equity holders in the privately held AleAnna will roll over their existing holdings into the newly combined entity. AleAnna has also secured almost $175 million in investment from various investors, underscoring the market's confidence in its future potential.

The boards of directors for both AleAnna and Swiftmerge have approved the merger. William Dirks, executive director of AleAnna, highlighted that the merger would "allow us to leverage the capital markets on our path to becoming a leading provider of both conventional and renewable natural gas."

The transaction is expected to close by December, pending customary closing conditions and approval from Swiftmerge's shareholders. Once finalized, the combined entity will be renamed AleAnna Inc., marking a significant milestone in the company's journey toward leading the clean energy transition.