Offshore law firm Collas Crill has advised Cirtek Holdings Philippines Corp. on its acquisition of Quintel Cayman Ltd. by way of statutory merger with Cirtek’s Cayman subsidiary, Cirtek Cayman Ltd. The transaction is valued at approximately $77 million.
Founded in the Philippines and listed on the Philippines stock exchange, Cirtek is engaged in providing manufacturing solutions for value-added, highly integrated radio frequency microwave and millimeter wave technology products.
Founded in the U.S. in 2007 and based in New York, Quintel supplies antenna solutions to North America’s telecom carriers.
The Collas Crill team, comprised of partner Stephen Nelson and associate Aoife Madden, advised Cirtek on all Cayman Islands legal aspects of the acquisition.
“This merger reflects an ongoing trend of large multinational entities choosing to carry out mergers and acquisitions through Cayman Islands subsidiaries due to the flexibility and certainty afforded by Cayman Islands legal and regulatory framework as well as the sophistication of its legal services providers,” Mr. Nelson said.
News source: Cayman Compass