Prabhu Narasimhan | White & Case LLP International Law Firm, Global Law Practice
Prabhu Narasimhan
Prabhu Narasimhan

Prabhu Narasimhan

Partner, London

“Prabhu has an innate ability to absorb information and deliver top class tax advice and innovative solutions to complex business problems.”

LexisNexis Tax Journal's "40 Under 40" 2015

Overview

Prabhu represents clients on a broad array of international tax structuring, planning and advisory matters. He also has broad transactional experience in corporate mergers and acquisitions, private equity, investment and hedge funds, structured finance and real estate.

Clients seek his knowledge and experience regarding the successful implementation of tax-efficient cross-border structures for international corporations, financial institutions and funds. He structures and implements all types of funds, and also advises on transactions undertaken by them.

Prabhu has particular insight into both advisory and contentious VAT matters, especially in the context of real estate transactions. Having previously practiced in the VAT advisory practice of a Big Four accountancy firm prior to joining White & Case, he is able to draw upon his extensive experience handling VAT issues.

He recently co-led the White & Case team advising HM Treasury and HM Revenue & Customs of the UK Government on the proposal for a new UK withholding tax exemption for Private Placements. This proposal was announced by the Chancellor George Osborne in his Autumn Statement on 4 December 2014.

Prabhu has written for a number of publications on tax and finance and is a frequent commentator on tax matters in the media.

Bars and Courts

  • England and Wales

Education

  • MA, Cambridge University

Languages

  • English
  • Hindi

Experience

GSO Capital Partners LP's management buyout of XLN Telecom, 2014

Prabhu took a key role advising GSO Capital Partners LP on its £115 million debt-and-equity financing of the management buyout of XLN Telecom from ECI Partners LLP. The team included lawyers from several of the Firm's practices, particularly Banking and Private Equity Groups. GSO, a subsidiary of global investment and advisory firm The Blackstone Group LP, is one of the world's largest credit-oriented alternative asset managers, with more than US$67 billion in assets under management.

Novator's African Telcoms Investment, 2014

Prabhu advised Novator on its investment in MODE, a technology company that provides mobile value added services to mobile network operators in emerging nations. Novator, an international investment firm, has been established for more than ten years and has a particular emphasis on emerging markets and special situations.

Play Topco S.A.'s PIK toggle transaction, 2014

Prabhu advised Play Topco S.A., the indirect shareholder of Polish mobile telecoms operator P4 Sp. Z o.o., on its €415 million senior PIK toggle notes offering. P4 Sp. Z o.o., which trades as Play, is a portfolio company co-owned by Olympia Development and London-based investment firm, Novator. The proceeds of the transaction have been distributed to shareholders.

Nostrum Oil & Gas' premium listing on the London Stock Exchange, 2014

Prabhu advised Nostrum Oil & Gas plc on its successful admission to the premium listing segment of the Official List and to trading on the Main Market of the London Stock Exchange. Nostrum Oil & Gas, an independent oil & gas exploration and production business with assets in Kazakhstan, previously had a listing of global depositary receipts on the London Stock Exchange. Prabhu worked as part of a cross-border, cross-practice team of lawyers which navigated the transaction's corporate, capital markets and banking complexities, to enable Nostrum to take the strategically pivotal step to a premium listing.

Rhône Capital's acquisition of Ask Chemicals, 2014

Prabhu worked as part of the international team that advised global private equity firm Rhône Capital LLC on the acquisition by its affiliates of ASK Chemicals GmbH from Ashland Inc. and Clariant. Established in 1996, Rhône focuses on investments in market-leading businesses with a pan-European or transatlantic presence and significant growth prospects.

Mexichem's US$300 million acquisition, 2011

Prabhu advised Mexichem SAB de CV, a major Mexican chemical producer, on its US$300 million acquisition of the AlphaGary Plastic Compounding Business Division of Rockwood Holdings, Inc. (NYSE: ROC). The acquisition gave Mexichem the opportunity to gain geographic diversification, and to apply new technology to growing markets in Latin America. Prabhu worked closely with Mexichem's in-house legal team and with more than 30 of the Firm's lawyers from five offices – Miami, Mexico City, London, New York and Washington, DC – to negotiate the transaction, and to take it from start to completion in less than four weeks.

Acergy's closing of US$8.8 billion combination with Subsea 7, 2011

Prabhu worked as part of the team that advised NASDAQ and Oslo stock exchange-listed Acergy S.A. on the closing of its combination with Oslo Stock Exchange-listed Subsea 7 Inc, to create a global leader in seabed-to-surface engineering and construction. The market capitalisation of the combined entity was approximately US$8.8 billion. This was an unusually complex transaction that required significant project management and successful cooperation over many months with in-house counsel from Acergy and Subsea 7 and their respective external advisers in the UK, Norway, Luxembourg and Cayman Islands.

Unimilk's merger with Danone, 2010

Prabhu advised one of Russia's largest dairy companies on a joint venture with the Russian arm of French foods giant Danone. Prabhu was able to work with an international team of the Firm's lawyers in London, Russia, Kazakhstan and France to achieve a deal which created the leading dairy business of this type in the CIS. Unimilk is a dairy producer with operations in Russia, Ukraine, and Belarus; and sales in Kazakhstan.

Publications

  • Ocean Finance: The death knell for legal formalities in VAT?, Financial Instruments Tax and Accounting Review, 2014
  • A nuisance called FATCA – Does the UK/US IGA make it bearable?, Financial Instruments Tax and Accounting Review, 2013
  • The curious ECJ case of Eon Asset Management and its impact on finance leasing in the United Kingdom, Financial Instruments Tax and Accounting Review, 2012
  • Data Centres – a new asset class: Tax considerations for private equity and institutional investors, Tax Planning International Review (Bloomberg BNA), 2013
  • TOGCs and the consecutive business transfers conundrum, Tax Journal, 2012
  • The concept of 'supply' in VAT – an analysis, VAT Digest (issue 90), 2014