Head of the London Tax Practice, Peita acts for high-value multinational companies, financial institutions and funds across the full spectrum of tax matters. Clients value his ability to devise clear, user-friendly solutions to complex problems by effectively coordinating detailed technical advice from multiple (internal or external) sources.
Peita offers the benefit of his extensive experience, advising on major transactions including public and private mergers and acquisitions (including joint ventures, debt and equity capital markets, banking and finance and funds). He also has a strong track record in domestic and cross-border restructurings, having devised and implemented complex structures in this area for many well-known multinational corporates.
His practice spans an array of jurisdictions and industries, but he has particularly extensive experience of the real estate sector, having advised on numerous major real estate finance transactions, acquisitions and disposals. His work in this area includes Digital Realty Trust's multi billion-dollar acquisition of strategic UK real estate assets.
Peita is also noted for his particularly deep insight into stamp tax matters. He has advised leading domestic and international corporations, banks and funds in this area, and has also helped them to develop sophisticated, stamp tax-efficient structures.
In recent years, Peita has been increasingly involved in high-value cross-border transactional and advisory work in emerging markets, where his deep knowledge of UK tax law has enabled him to also advise on the development of local tax policy. In late 2014, he was also called upon to advise HM Treasury on the UK government's proposal for a new UK withholding tax exemption for interest payments on privately placed debt.
Metso Corporation, 2015
Peita worked with the international White & Case team which advised Metso Corporation, a leading minerals processing and flow control technology and services supplier for the mining, oil and gas and aggregates industries, on the sale of its Process Automation Systems (PAS) business to Valmet Corporation. The enterprise value of this transaction was €340 million.
UK Government, 2014
Peita jointly led the team of White & Case lawyers which advised HM Treasury on the government's proposal, announced by Chancellor George Osborne during his Autumn Statement, for a new UK withholding tax exemption for interest payments on privately placed debt. Peita worked closely with HM Treasury and HM Revenue & Customs in advising HM Treasury on its work to design this proposed new tax exemption, which aims to encourage the growing private placement market in the UK, and to facilitate greater access to funding for UK businesses.
Digital Realty Trust, 2012
Peita worked as part of the international White & Case team which advised Digital Realty Trust on the acquisition of 761,000 sq ft of data centre facilities, located in and around London, and known as the Sentrum Portfolio, for approximately US$1.1 billion. San Francisco-based Digital Realty Trust is one of the world's leading data centre owners and operators, and is a US REIT listed on the New York Stock Exchange. This complex transaction was believed to be one of the biggest real estate deals in the UK in 2012.
Acergy S.A., 2011
Peita led the White & Case tax team which 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 unusually complex transaction required significant project management and successful cooperation over many months with in-house counsel from Acergy and Subsea 7 and involved the coordination of advice across the UK, Norway, Luxembourg and Cayman Islands.
Peita worked as part of the international team which advised Unimilk, one of Russia's largest dairy companies, on a joint venture with the Russian arm of French foods giant Danone. White & Case was instructed by Unimilk shareholder Meridian Capital, to advise them and other shareholders on this major transaction, which created the leading dairy business of its type in the CIS. The deal gave Danone control over 57.5% of the joint venture, which will be achieved through a cash purchase of Unimilk shares plus the contribution by Danone of various assets.
A nuisance called FATCA – Does the UK/US IGA make it bearable?, Financial Instruments Tax and Accounting Review
The curious ECJ case of Eon Asset Management and its impact on finance leasing in the United Kingdom, Financial Instruments Tax and Accounting Review
Race to the bottom – Is the United Kingdom becoming increasingly 'tax attractive'?, Tax Planning International Review (Bloomberg BNA)
TOGCs and the consecutive business transfers conundrum, Tax Journal
The concept of 'supply' in VAT – an analysis, VAT Digest (issue 90)