Services

Corporate Transactions

For international clients entering the UK market, we provide structuring advice to support efficient inbound investment strategies and mitigate potential UK tax exposure.

Defined benefit pension schemes usually represent a significant funding liability for the corporate sponsor.

We provide comprehensive tax structuring and advisory services to support mergers, acquisitions and disposals, ensuring that our clients achieve their commercial goals in a tax-efficient manner. We also advise on a broad range of corporate reconstructions and demergers.

We work with clients to ensure that any issues associated with these schemes do not become an obstacle to the transaction’s objective or lead to intervention by the Pensions Regulator.

We work with clients on share disposals and acquisitions, business disposals and acquisitions, joint ventures, outsourcing arrangements and reorganisations where early engagement on pension issues is key. This requires a unique combination of technical expertise and commercial awareness.

We also help trustees involved in transactions who need to balance their fiduciary duties with the corporate’s commercial objectives. This requires careful advice, strategic thinking and clear communication in order to respond appropriately.

Finally, we are often asked to provide services to other law firms that lack the necessary resources or expertise or where conflicts prevent their experts from acting.

Recent experience

  • Advising a US pharmaceutical business on the acquisition of a UK medical research company and the implications of taking on the target’s underfunded defined benefit scheme.
  • Advising a US engineering company on a restructuring, which included a three-scheme merger, a demerger of defined contribution benefits and benefit changes that boosted retirement benefits for 3,000 UK employees and pensions.
  • Advising a UK-based charity on the pension implications of converting to a charitable incorporated organisation.
  • Advising a UK car manufacturer on covenant and funding risk for its defined benefit scheme following the exercise of a put option, including negotiation with the Pension Regulator.
  • Advising the trustee board of a UK occupational pension scheme sponsored by a major European airline on the restructuring needed to achieve Pension Protection Fund coverage.
  • Acting for a major international online gaming company on the pension aspects of its first UK corporate acquisition, including clearance from the Pensions Regulator and Pension Protection Fund negotiation.
  • Coordinating a clearance application to the Pensions Regulator for a long-established UK clothing manufacturer as part of an acquisition by a Chinese buyer.

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