Ogier's work on Bitdeer de-SPAC merger named in China Business Law Journal's Deals of the Year 2023

An Ogier-advised de-SPAC merger – one of the largest of its kind in the BVI and Cayman - has been named a deal of the year by the China Business Law Journal.

Ogier partner Rachel Huang led the Hong Kong based team who provided BVI and Cayman Islands legal advice to Nasdaq-listed SPAC Blue Safari Group Acquisition Corp. in its de-SPAC merger with Bitdeer Technologies Holding Company, a world-leading technology provider in the cryptocurrency mining industry.

The business combination involved two consecutive statutory mergers in the BVI, led by Ogier, followed seamlessly by a statutory merger in the Cayman Islands, in which Ogier assisted. Ogier worked with four different teams of registered agents or registered office providers in the BVI and Cayman Islands to complete the mergers.

Working with Rachel were Ogier's global head of Corporate law Nathan Powell, legal manager Chloe Yip and Kingston Tang. Ogier worked closely with Blue Safari's US counsel, Davis Polk & Wardwell LLP, and Bitdeer's US counsel, Cooley LLP, in this de-SPAC transaction.

Rachel said: "Ogier is a market leader in de-SPAC transactions and we were very proud to work on one of the largest de-SPAC transactions in the British Virgin Islands and Cayman Islands and it's great to see that it has been recognised as a significant transaction."