Cripps Pemberton Greenish advises longstanding client Paydens on group reorganisation

15 May, 2019
by: Cripps Pemberton Greenish

Cripps Pemberton Greenish has advised Paydens, the independent and family owned pharmacy operator, on the reorganisation of its business structure.

 

Reorganisations specialist Katie Haylock and corporate partner Nick Austen, worked closely with the management team to simplify the structure of the group, creating one trading entity within the group through a tax neutral method. The restructure was organised to minimise the impact on the remaining corporate entities and the consolidated reserves of the trading entity. Importantly, the new streamlined structure will reduce the administration burden on the group.

 

The project involved working closely with the client’s bank and other professional advisors.

 

Alexander Pay, Managing Director of Paydens commented “This was a complex project involving share transfers, a hive up of assets, releases and assignments of intercompany debts and striking off companies. Katie and the team at Cripps Pemberton Greenish were able to draw on their previous experience to guide us through the process and come up with a structure that will work for our business going forward.”

 

For more information about our reorganisations team please contact Katie Haylock.