Steven Rees Davies is a partner within the Corporate department. He practices in the areas of corporate finance, capital markets, regulation and intellectual property, and has represented clients in a wide variety of cross jurisdictional corporate transactions and restructurings as well as private and public offerings, placements and introductions to the Bermuda, London and New York stock exchanges.  He is also frequently involved in multinational joint ventures and private equity projects.

His Bermuda and international corporate and regulatory experience covers telecommunications, technology, pharmaceutical, energy, inter-governmental and software industry sectors as well as corporate governance and constitutional advisory work.  Steven is particularly renowned for his technical expertise in the area of international regulation which extends to international treaties, tax information exchange agreements, FATCA and the Common Reporting Standard.

Steven is consistently ranked by Chambers Global since 2015 and is sought out for his expertise in an array of mandates, including M&A, fintech and regulatory transactions. One source enthused: ” His strengths are clearly seen in his ability to motivate his team and make sure his clients feel welcome and taken care of. He has always gone above and beyond to ensure all of our dealings resulted in a high degree of success.”  Steven is also consistently recognised by Legal 500 Caribbean as a ‘Leading Individual’ in the Corporate and Commercial category where he is described as “always a pleasure to deal with, very good communication, ready expertise” and recommended in the Regulatory and Compliance category. He is listed as a ‘Rising Star’ in both the Banking & Finance and Capital Markets categories in IFLR1000 since 2015. Steven was also chosen by Who´s Who Legal as one of the world´s leading practitioners in the M&A and Governance field for 2019.

In addition to being called to the Bar in Bermuda, Steven has been called to the Bar of New York (US Southern District) and admitted as a solicitor in England & Wales (non-practising).  He is also a member of the Bermuda Bar Association, the Law Society of England and Wales and the New York Bar Association.

Steven has authored and contributed to numerous articles and legal publications on points of Bermuda law, and has been invited to speak or act as a panel member on topics relevant to his practice at a variety of public and private events.



  • ASCENDANT GROUP LIMITED., Acted as Bermuda counsel for Ascendant Group Limited (“Ascendant”) in the acquisition of Ascendant by Algonquin Power & Utilities Corp. (“APUC”);
  • BITTREX GLOBAL, Advised Bittrex Global on their successful application for a Class F Digital Asset Business License which represents the third such license issued by the Bermuda Monetary Authority;
  • HASHDEX, Acted as Bermuda counsel for the Hashdex Nasdaq Crypto Index ETF, the world’s first exchange-traded fund designed to track digital assets investments;
  • WORLDWIDE VISION LIMITED., Advising the Bermuda target company in connection with the acquisition by Blackstone of a majority stake in MagicLab, which builds and operates leading dating and social networking apps, including Bumble and Badoo;
  • NORMANDY LIMITED., Acted for Normandy Limited in respect of its merger with Caribbean Investment Holdings Limited;
  • PARABOLIC DIGITAL HOLDINGS LTD., Advised on the establishment of Parabolic Digital Holdings Ltd. as a Bermuda company that would focus on the development and financing of green energy blockchain data centres;
  • SOUTHERN CROSS, Advised the Southern Cross Group of Bermuda companies in respect of all aspects of Bermuda law in relation to Telstra’s acquisition of a 25% equity interest in the Southern Cross Group and the Group’s subsequent network investment in the Southern Cross Next subsea cable project;
  • STABLEHOUSE, Acted as counsel to Stablehouse in connection with its application for a Class M Licence;
  • SIRIS CAPITAL GROUP LLC, Advised in relation to the acquisition of Travelport Worldwide Limited by Siris Capital Group LLC and Elliot Management Corp;
  • BELMOND LTD., Advised Belmond Ltd. on its acquisition by LVMH Moët Hennessy Louis Vuitton SE (LVMH);
  • HYATT HOTELS CORPORATION, Advised on the Bermuda aspects of its acquisition of Exhale, the wellness resort and spa company;
  • CROWN HOLDINGS, INC., Advised a global leader in consumer packaging, in connection with its acquisition of Signode Industrial Group Holdings (Bermuda) Ltd., a leading global provider of transit packaging systems and solutions, from The Carlyle Group, in a cash transaction valued at USD 3.91 billion subject to adjustment;
  • XBTO, Advised on the successful application for a Digital Asset Business (DABA) Licence as a Digital Asset Service Vendor (Market maker for digital assets) under the Digital Asset Business Act which represented the third DABA licence to have been issued by the Bermuda Monetary Authority;
  • AMERICA´S CUP EVENT AUTHORITY (BERMUDA) LTD.,  Provided ongoing charitable legal advice to the America’s Cup Event Authority (ACEA) in relation to the application of the Charities Act 2014, as it related to its affiliated charitable organization, known as “Endeavour Community Sailing”;
  • C&J ENERGY SERVICES LIMITED., Advised and represented C&J Energy Ltd and C&J Corporate Services (Bermuda) Ltd in respect of parallel provisional liquidation proceedings in Bermuda and chapter 11 proceedings in the United States of America;
  • L.F. WADE INTERNATIONAL AIRPORT – THE FINANCIAL INVESTORS, Advised on the Bermuda law relating to the financing of the redevelopment of the L. F. Wade International Airport in Bermuda (Redevelopment) pursuant to which the clients subscribed for USD 285 million of fixed coupon notes;
  • MAJOR UK LISTED BANK, Advised a major UK listed bank (in its capacity as arranger, original lender, agent and security agent) on a USD 150,000,000 amendment and restatement agreement made between the bank and a major Bermuda based insurance group;
  • ONE COMMUNICATIONS LTD. (ONE), Advised One, a publicly traded investment holding company (BSX:ONE.BH) in a cross border refinancing transaction with HSBC Bank Bermuda Limited;
  • IHS INC., Advised in relation to the Bermuda elements of the proposed merger with Markit Ltd, a leading global provider of financial information services, valued at USD 13billion;
  • TRITON CONTAINER INTERNATIONAL LIMITED., Advised in relation to its merger with TAL International Group, Inc., a NYSE-listed, US company.  The transaction creates the world’s largest lessor of intermodal freight containers with revenue generating assets valued at $8.7 billion;
  • WATERLOO INVESTMENT HOLDINGS LIMITED., Acted in connection with the issuance of 397,277,657 new ordinary shares with a par value of USD 0.50 each as at 21 July 2016 by way of a rights issue;
  • EL TEJAR LIMITED., Advised in respect of a major equity offering to its shareholders in order to recapitalise the Company by reducing gross leverage under certain convertible notes, the prepayment of indebtedness and for additional working capital;
  • KEYTECH LIMITED., Advising in connection with a multi-layered transaction that included the acquisition of the remainder of Bermuda Digital Communications Ltd. (CellOne) and the acquisition by Atlantic Tele-Network, Inc., of a controlling interest in Keytech.


Oxford Brookes University (England)

College of Law, Chester (England)

“We needed to get this deal done right first time and we did. We couldn’t have done it without him.”

Chambers Global


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Appleby acted as Bermuda counsel for Ascendant Group Limited

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8 Oct 2020 | News

Appleby to sponsor and speak at Bermuda Tech Summit

Appleby is pleased to be sponsoring and speaking at the Bermuda Tech Summit, which will be held virt...

1 Oct 2020 | Deals

Appleby advised Bittrex Global on acquiring their Digital Asset Business License to operate their cryptocurrency exchange from Bermuda

Appleby acted as Bittrex Global GmbH’s Bermuda counsel, on their application for a Class F Digital...

24 Sep 2020 | Deals

Appleby acted as Bermuda counsel for the Hashdex Nasdaq Crypto Index ETF

The world's first exchange-traded fund designed to track digital assets investments has been approve...

16 Sep 2020 | News

Bermuda Regulatory Update: Q1 and Q2 2020

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5 Nov 2020 |

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Contributors: Bradley Houlston
18 Aug 2020 |

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In each quarterly issue of the Appleby Asia Alert, we bring you the latest offshore legislative and ...

8 Jul 2020 |

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With data protection laws in more than 120 countries around the world, personal data is now viewed a...

8 Jun 2020 |

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24 Jul 2019 |

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The Asia-Pacific region has seen a surge of fintech start-ups, service providers, suppliers, investo...

Contributors: Fiona Chan

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