Multinational technology company IBM has hired CorralRosales, along with other Latin American firms, to carve-out Kyndryl. It does so by establishing the managed infrastructure services unit as an independent business.
This carve-out, in which our team of experts has been working on and which has a global value of US$60 billion, was signed on September 1. The aim is for Kyndryl to become an independent company headquartered in New York by the end of 2022.
On behalf of CorralRosales, the advisors in the transaction are partners Xavier Rosales, Edmundo Ramos, Andrea Moya; and associates Milton Carrera, Marta Villagómez, Sofía Rosales and Darío Escobar in Quito; and associates Ramón Paz y Miño and Edgar Bustamante in Guayaquil.
According to Latin Lawyer, "IBM's Shareholders will receive at least 80.1% of Kyndryl's common stock once the spinoff is complete, with IBM retaining the remaining stake. (.) While IBM and Kyndryl will be independent entities, at launch they will both be each other's biggest clients and remain as strategic partners".
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Originally published by Latin Lawyer
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