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New report: How high growth market buyers are moving M&A in a new direction

Ready to reset your compass? The geography of deal-making is changing fast. Over the last five years we have seen more deal value flow from the largest high growth markets (HGM) to mature market economies than in the other direction. Between 2008 and 2012 HGM companies invested US$161 billion into mature market companies, outstripping the opposite flow of US$151 billion. In 2012 alone, HGM companies closed deals for mature market targets worth US$32.6 billion, almost three times the amount they invested in 2005. We see this shift in dealflow direction as the start of...

Book – Tax restructuring in the EU

Whether you’re making an acquisition or looking for opportunities to simplify your group structure within the EU, this guide is intended to help you navigate the complexities of cross-border reorganisations. The book provides information on the technical fiscal aspects of the directive and an overview of its implementation within each member state. You will also find detailed country chapters, which facilitate comparison of the different rules in operation within each jurisdiction. Find out more about our new book  on how to simplify your group structure in the EU:...

Chemicals CEOs are juggling international expansion, rising R&D expenditure...

The number of chemicals companies engaging in cross-border mergers and acquisitions is substantially higher than it is in other sectors, as the figure above shows. Thirty-three percent of chemicals CEOs have completed at least one such deal within the past 12 months and 46 percent plan to do so within the next 12 months. Looking to Asia to lead the way The chemicals industry is particularly strong in Asia and North America; 67 percent of chemicals CEOs head companies with operations in Asia and 59 percent head companies with operations in North America (compared with 42...

Opportunities for your business after the New Merger Law

A new Tax Act Implementing the EU Tax Merger Directive into Belgian law was published in the Belgian Official Gazette on the 12th January and came into force immediately. The act introduces a tax-free regime for cross-border reorganisations. In addition, it also brings the existing tax provisions applicable to internal reorganizations in line with the EU Merger Directive.  Most provisions are applicable as of the date of publication. The EU Merger Directive of July 23, 1990 (as amended by the EU Directive of February 17, 2005) provides for a tax-neutral regime for...

Cross border Mergers are now regulated in Belgium

Cross-border mergers are now regulated in Belgium further to the adoption by the Chamber of the Miscellaneous Provisions Act (the “Act”), which is aimed inter alia at implementing Directive 2005/56/EC on cross-border mergers of limited liability companies (the “Cross-border Directive”) into Belgian law. The Act entered into force on 26 June 2008. Old Rules Before the Act came into force, cross-border mergers were not organised under Belgian law. Legal writers were divided on the feasibility of cross-border mergers notwithstanding adoption of the Belgian Private...