Profile details
About Paul Davison
Paul brings a calm, considered approach to complex tax and finance matters.
He advises on the full range of financing transactions and has particular expertise and experience in distressed debt restructurings. Paul also advises a range of clients on corporate finance mandates (including both public and private M&A), and helps clients resolve complex HMRC enquiries and disputes. Clients appreciate the rigour of Paul’s legal analysis, which he bases on a firm grasp of the commercial realities, and allies with a detailed understanding of accounting concepts.
Recent work
- Advising RELX Group on the simplification of its dual-listed company structure (with a combined market capitalisation of approximately £30bn) into a single parent company listed in London, Amsterdam and New York
- Advising Novartis AG on the sale to GlaxoSmithKline plc of Novartis’ 36.5% stake in a consumer health joint venture with GSK for US$13 billion
- Advising BMI Healthcare on its transfer of ownership and major recapitalisation (including a capital injection, rent reduction and debt maturity extension)
- Advising Trainline and its majority shareholder, KKR, on its IPO and premium listing on the London Stock Exchange
- Advising a number of clients on the implications of the European Commission’s decision concluding that aspects of the UK’s CFC rules constituted illegal state aid, with proceedings launched to challenge that decision at an EU level and advice also ongoing on clients’ responses to HMRC’s enforcement of recovery in the UK in the meantime