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A short-form statutory merger can be effected under the Cayman Islands' Companies Act (as revised) (the "Act") between a parent company and a Cayman Islands incorporated subsidiary. The short-form statutory merger takes place where the parent holds in excess of 90% of the shares in the subsidiary without the need passing for a special resolution of shareholders of the subsidiary to approve the merger.
Key takeaways A short-form statutory merger can be effected under the Cayman Islands' Companies Act (as revised) (the "Act") between a parent company and a Cayman Islands incorporated subsidiary. The short-form statutory merger takes place where the parent holds in excess of 90% of the shares in the subsidiary without the need passing for a special resolution of shareholders of the subsidiary to approve the merger.
Key takeaways A short-form statutory merger can be effected under the Cayman Islands' Companies Act (as revised) (the "Act") between a parent company and a Cayman Islands incorporated subsidiary. The short-form statutory merger takes place where the parent holds in excess of 90% of the shares in the subsidiary without the need passing for a special resolution of shareholders of the subsidiary to approve the merger.
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