Market leading insight for tax experts
View online issue

Secondary Buy-Out Problems

Liz Morgan and Catherine Robins, partners in Pinsents' Tax Group, consider how the restricted securities provisions introduced in this year's Finance Act apply to share for share exchanges

 
Liz Morgan and Catherine Robins partners in Pinsents' Tax Group consider how the restricted securities provisions introduced in this year's Finance Act apply to share for share exchanges
 
In the current climate secondary buy-outs of venture-capital-backed companies are becoming increasingly common. Whereas flotation was often previously seen as the most likely way for the Institutions to exit from a company (Oldco) it is now more likely that instead one Institution will exit and another will take its place. Indeed in the case of technology-based companies it is not uncommon for there to be a series of refinancings in a relatively short period. A secondary...

If you or your firm subscribes to Taxjournal.com, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
EDITOR'S PICKstar
Top