<SEC-DOCUMENT>0000950103-23-016437.txt : 20240118
<SEC-HEADER>0000950103-23-016437.hdr.sgml : 20240118
<ACCEPTANCE-DATETIME>20231117165444
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950103-23-016437
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20231117

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Cadeler A/S
		CENTRAL INDEX KEY:			0001978867
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			G7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		FAIRWAY HOUSE, ARNE JACOBSENS ALLE 7
		CITY:			COPENHAGEN S
		STATE:			G7
		ZIP:			DK-2300
		BUSINESS PHONE:		45 3246 3100

	MAIL ADDRESS:	
		STREET 1:		FAIRWAY HOUSE, ARNE JACOBSENS ALLE 7
		CITY:			COPENHAGEN S
		STATE:			G7
		ZIP:			DK-2300
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="text-align: right; margin: 0">&nbsp;<IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Office of Energy &amp; Transportation</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">100 F. Street, N.E.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><B>Re:</B></TD><TD><B>Cadeler A/S<BR>
Eneti Inc.<BR>
Schedule TO-T filed November 7, 2023<BR>
Filed by Cadeler A/S<BR>
File No. 005-87971</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">To Whom it May Concern:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">On behalf of Cadeler A/S (the &ldquo;<B>Company</B>&rdquo;), we submit
this letter in response to comments from the staff (the &ldquo;<B>Staff</B>&rdquo;) of the United States Securities and Exchange Commission
(the &ldquo;<B>Commission</B>&rdquo;) contained in its letter dated November 13, 2023, relating to the above referenced Schedule TO-T
(the &ldquo;<B>November 7 Schedule TO-T</B>&rdquo;). Concurrently herewith, the Company is submitting a Schedule TO-T/A (the &ldquo;<B>November
17 Schedule TO-T/A</B>&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.05in 0pt 0">For the Staff&rsquo;s convenience, the Staff&rsquo;s comments
have been stated below in their entirety in bold, followed by the corresponding responses from the Company. Except for any page references
appearing in the headings or the Staff&rsquo;s comments (which are references to the November 7 Schedule TO-T and the Prospectus/Offer
to Exchange filed on November 7, 2023 pursuant to Rule 424(b)(3) under the Securities Act of 1933, as amended), all page references herein
correspond to the relevant page of the November 17 Schedule TO-T/A. Capitalized terms used but not defined in this letter have the meanings
ascribed to such terms in the November 17 Schedule TO-T/A. Where appropriate, changes conforming to those noted in responses have also
been made elsewhere in the November 17 Schedule TO-T/A.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.05in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B><U>Schedule TO filed
November 7, 2023</U></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B><U>General</U></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>1.&nbsp;&nbsp;&nbsp;We note that you have filed forms of the (i) Letter of Transmittal;
(ii) Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees; and (iii) Letter to Clients for use by Brokers,
Dealers, Commercial Banks, Trust Companies and Other Nominees. Please file the actual letters.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><B><I>Response:
</I></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The Company respectfully advises the Staff that it has revised Item 12
(<I>Exhibits</I>) as shown on page 2 of the November 17 Schedule TO-T/A to replace the previously-filed forms with the actual letters,
and has filed the corresponding letters as exhibits to the November 17 Schedule TO-T/A.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>


</DIV>


<DIV STYLE="float: right; width: 28%"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">Date<BR>
November 17, 2023</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">Cadeler A/S<BR>
Fairway House<BR>
Arne Jacobsens All&eacute; 7<BR>
DK-2300 Copenhagen S<BR>
Denmark</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">+45 3246 3100<BR>
cadeler.com</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-size: 9pt">CVR. no. 31180503</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

</DIV>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>2.&nbsp;&nbsp;&nbsp;We note the following introductory paragraph on page 75 of the Prospectus/Offer
to Exchange: &quot;The Schedule 14D-9 includes additional information on the background, deliberations and other activities involving
Eneti (see the section titled &ldquo;Background for the Offer&rdquo; in the Schedule 14D-9, which will be filed with the SEC and mailed
to you and other Eneti Stockholders together with this prospectus). You are encouraged to read that section in its entirety.&quot; However,
we note that the &quot;Background for the Offer&quot; section that has been included in the Schedule 14D-9 is effectively identical to
the &quot;Background for the Offer&quot; section that is included in the Prospectus/Offer to Exchange. Please therefore revise or remove
the introductory paragraph quoted above, or advise. </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><B><I>Response:
</I></B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The Company respectfully advises the Staff that it has revised Item 5
as shown on page 2 of the November 17 Schedule TO-T/A.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>* * * *</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><B>&nbsp;<BR STYLE="clear: both">
</B></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.1in 0pt 0">If you have any questions or comments regarding these responses
or require any additional information, please do not hesitate to contact our counsel, Connie I. Milonakis of Davis Polk &amp; Wardwell
London LLP, at +44 207 418-1327.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.1in 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0.1in 0pt 0">&nbsp;</P>

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    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.4pt">Very truly yours,</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.4pt">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.4pt">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.4pt">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.4pt">/s/ Peter Brogaard Hansen</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.4pt">&nbsp;</P>
    <P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 5.4pt">Peter Brogaard Hansen</P></TD>
    <TD STYLE="width: 50%; padding-left: 5.4pt; font-size: 12pt">&nbsp;</TD></TR>
  </TABLE>

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