Conyers Advises Liberty Latin America on its Split-Off, US Listing and Launch

Jan 2018

Liberty Latin America Ltd. (“Liberty Latin America” or the “Company”), one of Latin America’s leading telecommunications companies, completed its split-off from Liberty Global plc (“Liberty Global”). Conyers Dill & Pearman provided Bermuda law advice to the Company on its split-off, launch and US listing as an independent publicly-traded company.

Following the successful completion of the spilt-off, Liberty Latin America Class A and Class C common shares are now trading on the Nasdaq Global Select Market under the symbols “LILA” and “LILAK”, respectively, and the Class B common shares are quoted on the OTC Markets under the symbol “LILAB”.

Director, Marcello Ausenda and Associate, Edward Rance advised on the transaction.

The split-off of Liberty Latin America forms a “pure-play” independent telecommunications company focused on Latin America and the Caribbean with:

• 6.4 million homes passed, serving 5.3 million revenue generating units (“RGUs”)¹;
• 3.7 million mobile subscribers; and
• Annual revenue of $3.7 billion².

Liberty Latin America’s businesses include:

• Cable & Wireless Communications Limited (“C&W”), a telecommunications company with operations in the Caribbean, Latin America and the Seychelles. C&W owns and operates a unique sub-sea terrestrial network that connects over 40 markets in the region;
• VTR.com SpA (“VTR”), a leading telecommunications company and the largest cable operator in Chile
• Liberty Cablevision of Puerto Rico LLC, the largest cable operator in Puerto Rico (60% owned).

“We were pleased to work with Liberty Latin America on its split-off and subsequent launch and listing on the Nasdaq Global Select Market and OTC Market. This deal underscores Bermuda’s position as a leading international financial centre and preferred jurisdiction for substantial global corporations who require a sophisticated and reputable platform to support high-value capital markets transactions”, said Marcello Ausenda, Director.

¹ As of September 30, 2017. For more details, please see Liberty Global's press release dated November 1, 2017.
² Revenue presented as annualized results for the nine months ended September 30, 2017.