Bermuda Section 104 Privatisations

Brian K. Holdipp • Posted 24/08/2009 • Under Articles

Bermuda continues to thrive as a first-class offshore financial centre and is the jurisdiction of choice for a number of companies with a primary or secondary listing on the Singapore Exchange Securities Trading Limited ("SGX-ST"). As of 6 May 2009, of the 180 overseas companies whose shares were listed on the SGX-ST, 111 of them were companies incorporated in Bermuda.

From time to time, Bermuda listed companies are the subject of privatisation transactions involving the takeover by an acquiring company ("bidder") of a listed company ("target") and the subsequent de-listing of the shares of the target from the relevant stock exchange.

This article explores the various means by which privatisation of a Bermuda company may be affected.

A version of this article was also published by Singapore Law Gazette.