Clayton, Dubilier & Rice has set up a Cayman Islands vehicle to own Morrisons, fuelling fears that it will dodge taxes.
Concerns about the US private equity firm’s vehicle, Market21GP, emerged just before the Takeover Panel is due to set a timetable for an auction for the supermarket group, between CD&R and the Fortress consortium.
The use of the offshore vehicle could weaken CD&R’s argument that it is the best “responsible” owner for Morrisons.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
Mitsubishi Estates and Co-Re appoint Savills to help lease the development’s office space
Decision deferred on former National Institute of Agricultural Botany revamp
Developer has taken 10 storeys off proposals since first filing
Colliers appointed to lease 50,000 sq ft of office space in the Salford Quays development
