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    3. Finding the balance: human touch versus high tech
    4. Connected Future: a global infrastructure report
    5. ShopBack seals latest major fundraising in Singapore
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    4. Liberty sells European assets to Vodafone in EUR 18.4bn mega-deal
  4. Managing Risk
    1. New lab services agreements for Honeywell following Homes spin-off
    2. Creating a tax-effective structure for a private equity investment
    3. Climate change liability – new litigation risks
    4. Protecting trade marks across Europe
    5. Markel takes Hippo to task in complex insurance arrears dispute
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    1. CMS breaks ground with first global tech start up programme, equIP
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    3. Facing the future
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  7. Partner interviews
    1. Interview with Olga Belyakova
    2. Interview with Jeremy Tan
    3. Interview with Laura Houet
    4. Interview with Ramón Huapaya
    5. Interview with Daniela Murer
    6. Interview with Christopher Jordan
    7. Interview with Herman Boersen
    8. Interview with Sibylle Schnyder
    9. Interview with Clemens Grossmayer
    10. Interview with Robert Stephen
    11. Interview with Mary Allan
    12. Interview with Matias Somarriva
    13. Interview with Denis Redon
    14. Interview with Joaquim Sherman de Macedo
    15. Interview with Eleanor Lane
    16. Interview with Niklas Zaugg
    17. Interview with Joachim Kaetzler
    18. Interview with Andreas Otto

Creating a tax-effective structure for a private equity investment

"The shareholder base of the holding platform was diverse and spread across several countries. This was a fast-moving, multijurisdictional deal requiring support from CMS teams in the UK, Germany, the Netherlands, Luxembourg and Switzerland."
ANNA BURCHNER 
Partner Tax CMS London

A cross-border CMS team advised a private equity fund on  the tax aspect of its acquisition of a US software company.  This is a continuation of work that began with the client in 2016.  At that time, we advised on the acquisition of another European software group and created a tax-effective Dutch holding / joint venture platform. 

In the current transaction, a majority stake in the target company was acquired through the previously established Dutch holding structure. We also advised on the tax aspects of the financing and transactional documents. 

CMS London partner Anna Burchner said, “The shareholder base of the holding platform was diverse and  spread across several countries. This  was a fast-moving, multijurisdictional deal requiring support from CMS teams in the UK, Germany, the Netherlands, Luxembourg and Switzerland.” 

She added, “The original structure  was based on loan notes but this was turned into an equity structure for the current transaction. Since the start  of the initial deal, we have had to contend with numerous twists and turns including referendums in the UK and Switzerland and significant changes to Dutch tax rules.”

Key contacts

Anna Burchner
Anna Burchner
Partner