8 September, 2014
Grand Cayman, the Cayman Islands – 8 September 2014 – Broadhurst LLC is pleased to announce that the firm acted for WestTel Limited (d/b/a Logic) in its acquisition of British Overseas Territory Cable & Telecommunications, Ltd. (“BOTCAT”). BOTCAT is the sole owner of WestStar T.V. Limited, a company that provides broadcasting, television and Internet services to residents of the Cayman Islands. BOTCAT also holds an interest in Bermuda-based CableVision Holding Ltd. The financing for the acquisition of BOTCAT will proceed by a combination of debt and equity whereby KeyTech Limited (whose shares trade on the Bermuda Stock Exchange at KEY.BH) takes on $68.9 million in debt and it shall also issue 2,424,242 shares as partial consideration.
The Broadhurst LLC corporate team for this transaction was led by Peter A. Broadhurst and Jeffrey D. Johnstone with the firm also providing all related regulatory advice to the acquirer.