Collas Crill has advised Cirtek Holdings Philippines Corporation on its acquisition of Quintel Cayman, Ltd. by way of statutory merger with Cirtek's Cayman subsidiary, Cirtek Cayman Ltd, valued at approximately $77million.
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 millimetre wave technology products.
Founded in the US in 2007 and based in New York, Quintel is a leading supplier of antenna solutions to North America's telecom carriers and enables them to increase efficiency, enhance quality-of-service and slash costs.
The Collas Crill team, comprising of partner Stephen Nelson and associate Aoife Madden, advised Cirtek on all Cayman Islands legal aspects of the acquisition.
Stephen said: "This merger reflects an ongoing trend of large multi national 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 frame work as well as the sophistication of its legal services providers."