Ogier Cayman Completes Reorganisation of BTG Pactual
GRAND CAYMAN, Cayman Islands, June 24, 2011
GRAND CAYMAN, Cayman Islands, June 24, 2011 /PRNewswire/ - Ogier Cayman
announced today that it has advised its client, BTG Pactual S.A. on, what is
believed to be the first merger of a licensed financial institution using the
revised merger provisions from the recently-enacted Companies (Amendment) Law
2011 of the Cayman Islands.
BTG Pactual S.A. is the leading Brazilian investment bank and is part of the
BTG Pactual Group. BTG Pactual S.A. has operations in Brazil, New York and
London and is the dominant asset and wealth manager in Latin America. BTG
Pactual Group has been operating in Cayman since 1998 through its subsidiary
BTG Pactual Banking Limited and holds a class B banking licence.
The reorganisation involved merging BTG Pactual Banking Limited into BTG
Pactual S.A. with the result that banking operations are now conducted through
a Cayman branch of BTG Pactual S.A. rather than by a subsidiary. Although the
merger was completed under Cayman law, the surviving entity, BTG Pactual S.A.,
remains a Brazilian company. Prior to the amended merger provisions
introduced in April 2011 it was only possible to merge a Cayman company with a
foreign company if the surviving entity was a Cayman company.
"The ability of our client to complete this transaction and provide seamless
service to its customers was enabled by the provisions in the amended Cayman
Islands legislation," said Peter Cockhill, managing partner, who along with
partner, James Bagnall and senior associate, Bradley Kruger, advised BTG
Pactual S.A. "The result is a new structure for BTG Pactual S.A. in the
Cayman Islands that offers greater efficiencies to support the activities of
its businesses around the world."
Mr Joao Dantas, Executive Director of BTG Pactual S.A. added: "Our
long-standing presence and relationship in the Cayman Islands is key for our
international activities. This new structure will help to expand our
businesses and products without, however, affecting the services we provide in
the Cayman Islands."
About Ogier Ogier is the only offshore firm offering legal and fiduciary
services that has a substantive presence in the four leading offshore
centres: the British Virgin Islands, the Cayman Islands, Guernsey and
Jersey. Ogier Cayman has 135 of staff and offers a full range of offshore
legal and fiduciary services to clients around the world.
+1 (345) 815-1892
Press spacebar to pause and continue. Press esc to stop.