Harneys advises Taiying Group Ltd on its acquisition of China Customer Relations Centers Inc by way of BVI statutory merger
Harneys acted as British Virgin Islands counsel to Taiying Group Ltd in relation to the merger between Taiying International Inc (a BVI incorporated subsidiary of Taiying Group Ltd) and China Customer Relations Centers Inc, effective 6 July 2021. As a result, CCRC is now a wholly-owned subsidiary of Taiying Group Ltd and has ceased to trade publicly on the NASDAQ Stock Market.
CCRC is a leading e-commerce and business services outsourcing specialist in the People’s Republic of China, focusing primarily on complex, voice-based and internet-based segments of customer care services, providing comprehensive outsourcing services for e-commerce platforms, call centres, marketing services, back-office operations and enterprise cloud customer services.
The Harneys team was a cross-jurisdiction collaboration between BVI-based Partner George Weston and Shanghai-based corporate specialist Jessie Xu. The merger was undertaken pursuant to, and taking advantage of, the flexible merger provisions in the BVI Business Companies Act.
George Weston commented: “Working with Jessie on this merger is a great example of our ability to serve clients across time zones and offices, demonstrating our experience and capability in cross-border corporate action. We have consistently advised clients on leading BVI take-privates using the BVI’s flexible merger code and it represents a real strength of our global Corporate practice.”
The Corporate team at Harneys excels at complex cross-border transactions involving BVI, Cayman Islands, Luxembourg and Cyprus vehicles. The team’s significant track record includes complex mega-deals, high value private equity transactions, landmark IPOs and the full spectrum of public and private M&A and joint ventures. Through Aristomedou Loizides Yiolitis LLC, Shanghai Representative Office (Cyprus), the Shanghai team provides an award-winning range of offshore legal services and fiduciary services. Our Shanghai-based team allow our China based clients to easily access the full range of incorporation, formation, fiduciary, directorship and trustee and trust administration services.