Harneys are delighted to have advised DXC Technology (NYSE: DXC) on its successful acquisition of Luxoft Holding, Inc (NYSE: LXFT), the global digital strategy and software engineering firm by way of statutory merger under the BVI Business Companies Act. At US$2 billion, this represents the largest ever (by value) take private of a British Virgin Islands publicly listed company.
We worked alongside and on instructions from a terrific team at Latham & Watkins LLP, New York counsel to DXC. Guggenheim Securities and BofA Merrill Lynch acted as financial advisors to DXC.
The Harneys team was led by Corporate Partner Greg Boyd with assistance from Counsel George Weston and Associate Ian Chambers. The Harneys corporate team routinely advises on the British Virgin Islands’ largest M&A deals and leading corporate transactions, underscoring our expertise and ability to get the deal done.
Partner Greg Boyd commented: “Once again the merger provisions under the BVI Business Companies Act coupled with the efficiency of the British Virgin Islands Registry of Corporate Affairs made for a very smooth transactional process. The merger was filed with the British Virgin Islands Registry of Corporate Affairs at 8.30am this morning (14 June 2019) using the their Premium Filing Service and was registered and a certificate of merger issued shortly thereafter enabling announcement of the completion of the transaction before the 9am market opening at the NYSE.”
The official DXC press release can be found here.