Uluc Ozcan leads the practice of dedicated tax firm Erdikler-Taxand, which has several highly respected practitioners. For cross-border structuring matters Saban Erdikler is singled out by his peers as an adept practitioner. Recent highlights of the ...
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Uluc Ozcan leads the practice of dedicated tax firm Erdikler-Taxand, which has several highly respected practitioners. For cross-border structuring matters Saban Erdikler is singled out by his peers as an adept practitioner. Recent highlights of the firm's work include their role in providing tax due diligence and structuring advice to power companies Alstom and Schneider in their purchase of French nuclear power group Areva as part of a wider consortium of companies. The firm dealt with the tax aspects relating to Areva's Turkish subsidiary including advice on the best structure to use to carve out the company's distribution and transmission operations. This deal illustrates the firm's ability to handle large international projects via its membership of the Taxand organisation as this deal involved member firms in eight countries. The firm also advised the beneficial owners of a pharmaceutical group on the best structure to use to allow some of them to transfer their shares to an outside investor, though some wished to retain their shares. A partial demerger was conducted by the firm to accommodate the differing desires of the owners. The firm was also able to ensure that no tax liability arose from the transfer of shares by those wishing to exit by creating four separate companies with shares in the group's holding company. Shares in the original holding company were treated as a capital-in-kind of the newly incorporated companies, allowing those selling to receive the proceeds of sale free of tax.
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