Charter - New Jersey incorporated, Irish tax resident, London-listed holding company

  • 29 Aug 2008
 

Slaughter and May, together with Mourant du Feu & Jeune (Jersey) and Arthur Cox (Ireland), is advising Charter on proposals to change its corporate structure and tax residence. Charter shareholders will exchange their shareholdings for equivalent shareholdings in a new holding company to be called Charter International plc, which is incorporated in Jersey with its head office and tax residence in the Republic of Ireland and which will be listed in the United Kingdom on the London Stock Exchange. The proposals will be implemented by way of a scheme of arrangement pursuant to sections 895 to 899 of the UK Companies Act 2006. After the scheme becomes effective, Charter International intends to implement a reduction of capital.

Charter owns two engineering businesses, the ESAB business focused on welding, cutting and automation and the Howden business focused on air and gas handling. Both are established world leaders supplying performance critical components to end-users.

 
 

Contacts

 

Slaughter and May: Andy Ryde (partner), Robert Dixon (associate), John Knapp (associate), Stuart Whitty (associate), Richard Collinson (associate); Tax: Sara Luder (partner), William Watson (partner), John Meehan (associate); Pensions and Employment: Jonathan Fenn (partner), Sandeep Maudgil (partner), Ellen Swan (associate); Dispute Resolution: Clive Chalkley (associate) 

Mourant du Feu & Jeune: Robert Hickling (partner); Michael Williams (associate)
Arthur Cox: Brian O’Gorman (partner)

 
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