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Stibbe established a permanent tax presence in the GCC this year with Emile Bongers now practising from Dubai. Support is provided by Amsterdam partner Michael Molenaars who is often in the area. The firm also cooperates with Alliance partner Herbert ... [more]

Stibbe established a permanent tax presence in the GCC this year with Emile Bongers now practising from Dubai. Support is provided by Amsterdam partner Michael Molenaars who is often in the area. The firm also cooperates with Alliance partner Herbert Smith in much of its work. Their deals this year have been characterised by acquisitions, but the firm has also handled cross-border structuring and restructuring matters. Their advice to Japanese oil company Idemitsu Kotsan on the restructuring of its interest in the Ras Laffan refinery in Qatar presented a challenge to ensure tax efficiency. Stibbe overcame the problems posed by using a Dutch holding company. The firm also worked alongside Herbert Smith on the acquisition of Dutch entity Zain Africa from Mobile Telecommunications Company of Kuwait. This presented a series of cross-border tax issues, complicated by the purchaser's presence in Holland and necessitated extensive coordination with the firm's offices there.