Search results for

Allen & Overy is advising the Australian service company, Mayne Nickless Limited, on its £190 million ($270 million) disposal of its UK and Irish courier and express freight businesses.

Regus plc has issued notice of its successful flotation on the NASDAQ and London Stock Exchange, valued at £1.5 billion ($2.16 billion). The share price, which stood at £2.60 on the October 24 unconditional date of trading, now stands at £3.66 (figure correct at the time of publication).

Tax legislation is changing at a rapid pace in the countries of Latin America, which can mean headaches for in-house tax directors and plenty of business for their advisers. However, the upside is that most countries in the region are adopting a uniform approach. Sharon Cunningham reports

On September 29 2000, the Dutch underminister of finance announced that the proposed changes to the participation exemption rules have been postponed to January 1 2002. The date of entering into force of the initial proposal was January 1 2001. The present and proposed legislation is outlined below, along with a test of whether the proposals are in conflict with EU law.

The UK Finance Act 2000 contained significant reforms to the way that double tax relief is to be given to UK companies. The provisions were amended many times during the passage of the Finance Bill, resulting in a number of matters still requiring final resolution. This has been recognized by the UK Inland Revenue and the following amendments, as announced in the UK's Pre-Budget Report on November 8 2000, should be put through in the next Finance Bill.

Following several months of negotiations, 140 lawyers from the Belgium office of Loeff Claeys Verbeke (Loeff) are set to join international law firm Allen & Overy in January 2001.

US oil firms Chevron and Texaco have announced plans to merge. The deal, valued at $43 billion, will create the world's fifth-largest oil company. On completion, Chevron will be the majority holder with approximately 61% of the combined equity.

The financial services group Collins Stewart Holdings plc has turned to S J Berwin & Co for advice on the placing of 32.6 million ordinary shares. The deal values the company at £326 million ($413 million) and admits it to the official list of the London Stock Exchange.

Allen & Overy has advised Deutche Bank Capital Partners and Pierre et Vacances on their joint purchase of Center Parcs, the holiday division of Scottish and Newcastle

The WTO has set up an arbitration panel to judge the EU''s claims for trade sanctions against the US, worth more than $4 billion, in their dispute over tax breaks for US exporters. The WTO said the arbitration will not begin until a WTO compliance panel has determined whether new US tax-relief provisions violate the international body''s subsidy rules. The US lost its appeal against a WTO dispute earlier this year, which ruled that tax breaks for exporters through offshore foreign sales corporations (FSCs) constituted an illegal export subsidy.