Thursday, 24 March, 2011

Vistra merges with Asian market leader.

Vistra is proud to announce that it will merge with the Offshore Incorporations group of companies, the Asian market leader in company formation and associated services. This combination is possible after Vistra's main shareholder, IK investment Partners, announced today that it has acquired the fastest growing provider of corporate and fiduciary services in Asia. The management and employees of both Vistra and the Offshore Incorporations group have demonstrated their commitment to the merger by becoming important shareholders in the combined group.

The Offshore Incorporations group today comprises three specialist entities: Asia's leading company formation specialist, OIL; one of the leading corporate services firms in Asia, Acceptor; and trust and fiduciary service firm Credence Trust. The intention is to integrate Acceptor and Credence Trust with Vistra under the Vistra brand. OIL will continue to operate independently.

The transaction will create a unique player in the trust and fiduciary industry, boasting the most balanced geographic reach globally. The new group will employ circa 500 professionals. Vistra's clients will now be able to benefit from an extended network in Asia and knowledge of Asian based solutions. As well as several offices in China (Beijing, Shenzhen, Shanghai), the Offshore Incorporations group is also present in Hong Kong, Singapore and Tawain.

Bart Deconinck, Executive Chairman of the Board of the combined group, commented: "This is a very exciting union of two successful companies which creates a truly global service provider with substantial scale. The combination allows us to bridge Europe and Asia for clients requiring such solutions. The new group will be ideally positioned to tap into the growing market of professional services generated by cross border structuring and international wealth planning." 

Martin Crawford, CEO of the expanded Vistra group, said: "The underlying commercial logic for the deal is to create a "best in class" service provider. The combination of Acceptor, Credence and Vistra will broaden the range and scope of services offered to our clients as well as expand the team of professionals working for our clients.  The deal will accelerate the growth of the merged business.  We are excited about the opportunity to further develop the market in which we operate with a more comprehensive service offering."

For more information please contact Bart Deconinck or Yolanda Garcia on +41 (0)22 319 18 92.

For more information about OIL, please visit www.offshore-inc.com
For more information about Acceptor, please visit www.acceptor.com
For more information about Credence Trust, please visit www.credencetrust.com

To read the full press release, please click here.

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