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In the Canadian Alberta Printed Circuits (APC) transfer pricing case, the decision relied extensively on the evidence given by expert witnesses on behalf of the taxpayer and the Canadian Revenue Agency (CRA).

Draft regulations on the French thin capitalisation rules have been released by the French tax authority (FTA).

Marco di Siena has been made into a tax partner at Chiomenti Studio Legale.

Type of Deal Value Acquirer Target Adviser to acquirer (tax) Adviser to target (tax) Acquisition $2.3 billion Toshiba Corporation Landis & Gyr Morrison Foerster; JP Morgan Skadden, Arps, Slate, Meagher & Flom; Niederer Kraft & Frey Acquisition $950 million Charterhouse Capital Partners Environmental Resources Management (ERM) Dickson Minto SJ Berwin; Weil, Gotshal & Manges - Sarah Priestley, Oliver Walker Acquisition $575 million Publicis Groupe Rosetta Marketing Group Wachtell, Lipton, Rosen & Katz - Deborah Paul, Michael Sabbah Acquisition $235 million Exponent Private Equity Pattonair (Umeco) Slaughter and May - Sara Luder, Holly Jones Acquisition Undisclosed inVentiv Health Inc PharmaNet Development Group (JLL Partners Inc) Skadden, Arps, Slate, Meagher & Flom - Moshe Kushman Acquisition Undisclosed Kohlberg Kravis Roberts & Co. Versatel AG Simpson Thacher & Bartlett; Elvinger Hoss & Prussen; Hengeler Mueller - Martin Klein Joint venture Undisclosed Aeroports de Paris (ADP) JC Decaux Bredin Prat Herbert Smith Type of Deal Value Issuer/Borrower Lead managers/arrangers Adviser to issuer/borrower (tax) Adviser to lead managers (tax) SEC-registered notes offering $3 billion Google Inc. Citigroup; Goldman Sachs; JP Morgan; Credit Suisse; Merrill Lynch; Morgan Stanley Davis Polk & Wardwell - Rachel Kleinberg, Ryan LaRosa SEC-registered notes offering $2 billion Rio Tinto JP Morgan; Deutsche Bank; RBS; Morgan Stanley; RBC; SG Americas Davis Polk & Wardwell - John Paton, Alon Gurfinkel Return of cash $1.7 billion John Wood Group PLC Slaughter & May - Michael Lane, Richard Jeens SEC-registered debt offering $1.6 billion Banco Bilbao Vizcaya Argentaria (BBVA) J&A Garrigues; Davis Polk & Wardwell - John Paton, Alon Gurfinkel Sidley Austin Notes offering $700 million General Mills Inc Barclays Capital Inc; Citigroup Global Markets Inc General Mills legal department (in-house) Davis Polk & Wardwell - Michael Mollerus, Catherine Tennant High yield bond offering $687 million Styrolution Group GmbH Barclays Bank plc; Citigroup Global Markets Ltd; HSBC Shearman & Sterling - Bernie Pistillo, Johannes Frey, Shiu-Kay Hung, Norbert Muckl Credit facilities $540 million MoneyGram Payment Systems Worldwide Bank oF America NA Vinson & Elkins Davis Polk & Wardwell Buyout financing $525 million TPG Capital Merrill, Lynch, Pierce, Fenner & Smith Inc; Barclays Capital; UBS Securities Cleary Gottlieb Steen & Hamilton Davis Polk & Wardwell Senior notes offering $435 million E*TRADE Financial Corporation JP Morgan Securities Davis Polk & Wardwell - Rachel Kleinberg, Ryan LaRosa Cahill Gordon & Reindel Global equity offering $400 million BR Malls Participações Davis Polk & Wardwell - John Paton, Michael Farber Skadden, Arps, Slate, Meagher & Flom; Pinheiro Guimarães Advogados Senior subordinated notes offering $250 million Unit Corporation Merrill, Lynch, Pierce, Fenner & Smith Inc. Conner & Winters Davis Polk & Wardwell - Lucy Farr, Juelle Gomes Revolving credit facility $30 million Pandora Media Inc JP Morgan Chase Bank, NA Davis Polk & Wardwell - Rachel Kleinberg, Ryan LaRosa Cravath, Swaine & Moore

Italian headquartered international law firm Bonelli Erede Pappalardo has appointed two new tax partners. They were appointed at BEP’s partners meeting, held on May 7 2011.

Type of Agreement Country Country Date Signed Tax information exchange agreement Mexico Costa Rica April 25 2011

Ireland and the UK have joined the Netherlands and five other countries in rejecting the EU’s proposals for a Common Consolidated Corporate Tax Base (CCCTB).

PwC has announced the appointments of two new tax partners and two new tax principals in their US offices.

Responding to the European Commission’s consultation on the future of the EU’s VAT system, newspaper publishers have called for lower VAT rates on digital newspapers to bring them in line with print copies.

Opposition to the UK’s controversial decision to increase taxes on the country’s energy industry has gained pace, with Scotland’s First Minister Alex Salmond branding the move a “smash-and-grab” raid that could cost up to 10,000 potential jobs in the sector.