Feb 29, 2016
Cadwalader, Wickersham & Taft LLP, a leading law firm to global corporations and financial institutions, represented The Procter & Gamble Company on the tax aspects of the tax-free transfer of its Duracell business to Berkshire Hathaway.
The split-off transaction involved P&G exchanging a recapitalized Duracell Company for Berkshire Hathaway’s 52.8 million shares of P&G stock.
The transaction was announced in November, 2014.
The Cadwalader team was led by Tax Group Chair Linda Swartz, who has served as tax counsel to P&G since 2005 on transactions including the pending tax-free distribution and immediate acquisition of 43 beauty brands by Coty Inc., the sale of its Pringles business to Kellogg Co., the tax-free distribution and immediate acquisition of its Folgers Coffee business by the J.M. Smucker Company, and the tax-free acquisition of The Gillette Company, and included partner Richard Nugent, special counsel Edward Wei and associate Matthew Watrous.
Richard Brand, Brian McGovern
Joseph Moreno, Anne Tompkins
Robert Cannon will discuss the U.K.’s new insurance-linked securities framework.