Walkers is pleased to have advised TAG Holdings Limited ("TAG") on its business combination with AGBA Acquisition Limited ("AGBA"), a special purpose acquisition company, with AGBA acquiring all of the issued and outstanding securities of TAG International Limited and TAG Asia Capital Holdings Limited (together, the "TAG Business") for US$555m. The post-combination company, "AGBA Group Holding Limited" will operate the TAG Business and its OnePlatform brand, which offers a full-service platform to banks, other financial institutions, brokers, and individual independent financial advisors, representing one of Hong Kong's leading full-service wealth management and fintech platforms.
Walkers fielded a cross-jurisdictional team, including both the Singapore and BVI offices, to provide around-the-clock BVI law support for TAG enabling the deal to close on an expedited timeline.
Commenting on the transaction, Singapore-based partner Timothy Stevens said, "We are delighted to have worked alongside the Dechert team to deliver a fantastic result for the client having leveraged our cross-border BVI capabilities to provide around-the-clock support. The deal showcases the strength and depth of Walkers' international BVI-law offering to service clients' needs across timezones to facilitate complex and time-sensitive cross-border M&A deals. It also highlights Walkers as the go-to firm for high-value cross-border M&A matters and for BVI companies listing on the major US exchanges."
The Walkers' team comprised Timothy Stevens, Alex Drysdale, Kevin Ho and Syed Islam and worked in concert with Dechert.