Announcements Maples and Calder Advises on Largest Semiconductor Acquisition in History
09 Mar 2016
Maples and Calder has advised Singapore-based Avago Technologies Limited ("Avago") on the Cayman Islands aspects of its US$37 billion acquisition of Broadcom Corporation ("Broadcom"), which closed on 1 February 2016.
Under the agreed terms of the deal the transaction included a scheme of arrangement implemented by Avago under Singapore law and the merger of certain indirect subsidiaries, including Cayman entities, with Broadcom. As a result, all issued shares in Avago were exchanged for shares in a newly formed Singaporean company named Broadcom Limited ("Holdco") and Broadcom stockholders elected to receive cash, shares in Holdco or limited partnership interests in a newly formed Cayman Islands partnership.
A consortium of banks provided over US$15 billion in secured financing to Avago for the acquisition.
The transaction is the largest semiconductor acquisition in history and the combined company forms the third-largest US semiconductor maker by revenue after Intel Corp. and Qualcomm Inc.
Alasdair Robertson, Global Managing Partner at Maples and Calder, commented: "This high-profile transaction exhibits and further deepens Maples and Calder's unrivalled experience in the technology sector. We are very pleased to have been able to assist our long-standing client, Avago, with this important transaction."
Maples and Calder's Cayman Islands team on the corporate restructuring side comprised partner Alasdair Robertson, counsel Nicola Bashforth and associate Amanda Lazier, and on the secured financing side partner Tina Meigh and associate Lucy Sleep.
The Maples Group's law firm, Maples and Calder, is pleased to announce the appointment of Heidi de Vries as the Managing Partner of its London office.Read more
20 Aug 2019
Maples Group Welcomes US Bankruptcy Courts Decision on the Rights of Investors in Cayman Islands Funds
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20 Aug 2019
The Maples Group has announced the appointment of Olena Mykhailenko as a Vice President in Dubai.Read more
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31 Jul 2019
The Maples Group is pleased to announce that it has once again been recognised in the latest edition of the Chambers High Net Worth Guide.Read more
29 Jul 2019
Maples Group has been selected to provide Cayman Islands legal advice and trustee, management company, fund administration and directorship services to Indo-Japan Fund.Read more
28 Jun 2019