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Conyers Dill & Pearman has advised DSV A/S (“DSV”) on its agreement to acquire UTi Worldwide Inc. (NASDAQ: UTIW) (“UTi”). The take private transaction, which is to be implemented by way of a British Virgin Islands statutory merger and is subject to approval by UTi shareholders and regulatory approvals, is valued at approximately US$1.35 billion.
The transaction, which is expected to be completed in the first quarter of 2016, is believed to be the second ever largest takeover of a publicly listed BVI company by transaction value.
The Conyers team, which worked alongside Skadden, Arps, Slate, Meagher & Flom LLP and Moalem Weitemeyer Bendtsen on the transaction, was made up of Anton Goldstein and Patrick Ormond.