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Giles Bavister

Partner
+44.(0)20.7360.8173
Fax +44.(0)20.7648.9001

Giles Bavister is a partner in the firm’s London office where he is a member of the tax practice group. Mr. Bavister’s practice includes advising on the tax aspects of the full range of corporate M&A and private equity transactions; both domestic and cross border, in-bound and out-bound investments and joint ventures and corporate reorganizations. Mr. Bavister also advises UK resident and non-resident companies, individuals and trusts in the real estate sector on a wide range of property transactions, including:

  • Structuring and implementing tax-efficient acquisitions and disposals
  • Structuring portfolios and fund investments, involving the use of corporate, unit trust and partnership vehicles
  • Commercial and residential property developments, for private and public sector clients
  • Investment in alternative asset classes such as renewable energy and student accommodation.

He also advises on VAT, particularly in relation to cross-border supplies of goods and services, financial services and e-commerce.

Professional Background

Prior to joining the firm, Mr. Bavister was a partner in the London office of a global law firm.

Professional/Civic Activities

  • British Property Federation VAT Committee
  • Stamp Taxes Practitioners Group

Additional Information

Publications
  • “SDLT and partnerships,” Practical Law Company
Mr. Bavister frequently advises on the tax aspects of corporate transactions, recent examples include:
  • Advised Norwegian wind farm and renewable energy developer NBT AS on the acquisition of SyvashEnergoProm LLC, a Ukrainian company involved in the development, construction and financing of a power generation facility and new substation for the 250 MW Syvash Wind Power Project in Ukraine, including advising on investment treaty protection aspects of its investment.
  • Advised Canada-based Boralex Inc. in its joint venture transaction with UK renewables developer Infinergy, aimed at developing a pipeline of onshore wind projects primarily located in Scotland for a total estimated capacity of 325 MW.
  • Advised NEP Group, a worldwide outsourced technical production partner supporting premier content producers of live sports and entertainment, on its acquisition of SIS LIVE Limited, a leading provider of connectivity services, from Sports Information Services Limited.
  • Advised First Data Corporation a global payment technology solutions company, on the $83 million sale of its wholly owned subsidiaries in Lithuania, Latvia, Estonia to Worldline, a European leader in the payments and transactional services industry.
  • Advised Wabtec Corporation on its acquisition of the entire issued share capital of Melett Limited, a leader in the design, manufacture and supply of high-quality turbochargers and replacement parts to the turbocharger aftermarket.
  • Advised online estate agency business easyProperty on its £60 million merger with GPEA, the parent company of The Guild of Property Professionals and Fine & Country, for an undisclosed sum. The transaction was structured by a combination of cash and equity and was backed by institutional multi-asset fund manager Toscafund Asset Management.
  • Advising a major tire manufacturer in connection with its acquisition of the entire issued share capital of a leading UK fleet management service provider and independent truck tire retreader.
  • Advising Euro Car Parts Limited, a subsidiary of LKQ Corporation in its acquisition of the business and assets of Andrew Page Limited in a pre-packaged purchase from PwC, acting as administrators of the Andrew Page business.
  • Acted for the vendor, a leading media rights company, in the sale of a business providing media content including photos and images to another leading brand in the media rights industry. The deal was structured as an asset and share sale in the US, UK, Australia and Germany.
  • Advising Boralex in acquisition of European Forest Resources Holdings Limited, the owner of developed and proposed wind farm projects in Scotland and France.
  • Advising United Kingdom-based Tax Systems plc (formerly Eco City Vehicles plc), on its acquisition of United Kingdom-based, Tax Computer Systems Limited, associated equity and debt financing and the re-admission of the enlarged group to trading on the London Stock Exchange's AIM Market.

In addition Mr. Bavister has advised on the following real estate transactions:
  • Represented Loftus Family Property in relation to their high profile £120 million sale of 22 Baker Street to Lazari, comprising a mixed use scheme of offices, retail and residential accommodation.
  • Advised One New Oxford Street Limited Partnership in relation to its lettings at One New Oxford Street, one being to gaming platform Twitch. Rents are due to be in excess of £2.5 million.
  • Acted for University of Utah in the £40 million acquisition of its UK campus for its Business School. This will comprise a campus living area, class rooms, kitchen and administration site. This included advising on the tax structuring both in the USA and UK and real estate aspects.
  • Advised on the structure and implementation of a Sovereign Wealth Fund Investment in a £1.8 billion joint venture in a main central London shopping area.
  • Acted on the acquisition and subsequent dissolution of a Jersey property owning unit trust in relation to property at Finsbury Circus valued at £152 million.
  • Acted on the acquisition of numerous property owning SPVs, including in relation to transactions where the property holding structures were collapsed and refinanced.
  • Acted for a major UK REIT on the sale of Ropemaker Place via a JPUT structure for £472 million.
  • Acted for a major UK retailer on the sale of a warehouse property at White City to a university where the property was to be partly developed including the residential units, for a deal value of £92 million.
  • Acted for various student accommodation providers and developers, including acting on acquisitions in order to ensure SDLT and VAT efficiency and implementing efficient holding vehicles including PropCo/OpCo structures.
  • Acted for a large Chinese Sovereign Wealth Fund in relation to its acquisition of Chiswick Park via a JPUT and Luxembourg holding company structure which included a joint venture element with a property manager for £770 million.
  • Advised in relation to the acquisition for a Sovereign Wealth Fund of a 64% interest in the Pollen Estate for £381 million.