DLA Piper acted as legal advisor to Allied Electronics (Altron) on its demerger of Bytes Technology and the secondary listing of Bytes Technology on the Johannesburg Stock Exchange (JSE), which transaction received the Deal of the Year award at the Ansarada DealMakers Awards on 23 February 2021.
Announced in April 2020, Altron demerged and separately listed its UK business, Bytes UK, to unlock value for shareholders and streamline operations. The company listed in December with a market capitalisation of R16.3 billion.
Peter Bradshaw, Director and Location Head: Corporate at DLA Piper South Africa said: "We are delighted and incredibly proud to have acted on this award winning transaction. It truly is testament to our ability to develop and implement innovative structures for our clients."