DRESDNER RCM'S UK EQUITY OFFERING ALLOWS LOAN NOTE HOLDERS TO SHELTER FROM CAPITAL GAINS TAX
Dresdner RCM has launched a mainstream UK equity investment trust to be marketed to intermediaries despite being designed for loan note holders from two recent corporate takeovers. The British Portfolio Trust was set up to cater for needs of the holders of loan notes issued after the takeover of Blue Circle Cement by French building materials group Lafarge and the demerger of Shopgood, subsequently renamed Laurel Pubs Limited from Whitbread and its subsequent sale to Morgan Grenville Private Equity. The loan notes, an instrument issued instead of cash on the cash-takeover of a company, ...
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