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Bain Capital, the US investment company, has bought Domino Pizza from the company's founder Thomas Monaghan. The deal is worth approximately $1 billion. Bain will acquire a 90% stake in Domino. Monaghan will retain an equity interest in Domino and will serve as its non-executive chairman. Domino is the world's largest pizza company with annual sales of $3.1 billion. Advice to Bain Capital came from Ropes & Gray in Boston. The tax partners involved were Eric Elfman and Carolyn Osteer. The tax associate was Susan Morse.

A consortium including Prudential Insurance Company of America and the Abu Dhabi Investment Authority has bought British Aerospace's property development business, Arlington Securities. The sale is valued at £285 million ($450 million). Cameron McKenna in London advised Prudential Insurance Company of America. The tax team included partner Stephan Charge and assistant Charles Elphicke.

Dutch retail groups Vendex and KBB are to merge in a deal valued at Fls1.91 bn ($1 billion). The Dutch authorities have given the go ahead to the deal without it being subject to special conditions. The new groups will control almost all department stores in the Netherlands. Tax advice to Vendex came from KPMG Meijberg in Amsterdam. The tax partners involved were Adri van Kemenade and Wytze van der Meer. Vendex is also represented by Loeff Claeys Verbeke in Amsterdam

German property group Deutsche Gesellschaft fur Immobilienfonds (DEGI) has sold eight properties in central London to UK group Heron International. The deal is valued at £205 million ($350 million) Advice to DEGI came from London law firm Nabarro Nathanson. Senior associate Lydia Simpson handled the tax matters.

New York-based tax litigator Lawrence Hill has joined White and Case as a partner. Previously, he was head of tax litigation and Internal Revenue Service controversy at Brown & Wood. Hill plays an active role as an advocate for the accounting profession and represents a number of big five firms. Specialities include advising accountants on ethical and risk management issues. He has also represented banking and investment banking companies in tax and litigation matters.

Lockheed Martin, the US defence and aerospace group is to acquire satellite communications company Comsat for $2.7 billion. The deal will require US Congressional approval, because under US law, no company is allowed to hold a stake exceeding 49% in Comsat, a former monopoly. Lockheed is advised by US law firm King & Spalding. Tax advice came from partners Thomas Wessel in Washington DC and Robert Woodward in Atlanta.

Directive 69/335/EEC — Indirect taxes on the raising of capital — Merger of companies — Acquisition by a company which already holds all the securities of the companies acquired.

Directive 69/335/EEC — Indirect taxes on the raising of capital — Duty on notarial deeds recording the repayment of debenture loans.

Directive 69/335/EEC — Taxes on the raising of capital — Tax on companies’ net assets.

Recovery of sums paid but not due — Treatment of a national charge incompatible with Community law.