BVI Finance is reporting that 2020 was a positive year for the local financial services industry as local firms acted on more than $5 billion of global transactions.
These transactions range from Initial Public Offerings (IPOs) and bond issuances to complex debt restructurings.
“Despite the impact of COVID-19, BVI financial services firms were involved in a number of significant deals in 2020 and we are confident that the jurisdiction will have a positive year ahead,” a release from BVI Finance said.
Conyers — a global offshore law firm in the BVI — successfully advised its long-standing client AquaVenture Holdings Limited (NYSE: WAAS), a leading provider of sustainable Water-as-a-Service® solutions listed on the New York Stock Exchange, on its US$1.1 billion acquisition by Culligan; a global consumer water services company.
The deal was one of the largest takeovers of a publicly-listed BVI company by transaction value.
“This merger was made all the more remarkable given it was carried out as the BVI underwent 24/7 curfew in a bid to quell COVID-19 – a true testament to the efficiency of the BVI Registry of Corporate Affairs and all those involved,” BVI Finance said.
Local BVI firms Harneys, Ogier, Mourant BVI, O’Neal Webster and Appleby BVI were also involved in multi-million dollar transactions which helped the financial services industry thrive during the onslaught of the COVID-19 pandemic.
“We will look back at 2020 as a transformative period. A year in which the global economy was brought to a near standstill by the COVID-19 pandemic. Yet BVI firms, and representatives across the BVI financial services industry, have demonstrated incredible agility and resourcefulness. We are confident that this will set us on a good course to further growth and prosperity in 2021,” BVI Finance said in a statement.
Copyright 2021 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.