Peter Feros specialises in providing front-end strategic income tax advice to listed Australian and foreign corporates and domestic and foreign funds, with a particular focus on M&A and fund structuring.

He is known for being technically excellent and has been instrumental in developing structures which make transactions bankable.

He advises clients from many industries, including the extractive industries, technology and financial services sectors, and has a broad base of private equity, hedge fund and property fund clients. 

Peter also advises many private clients and privately owned groups. 

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Expertise

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Taxation

ConocoPhillips: Peter advised NYSE-listed ConocoPhillips on the tax aspects of its arrangements with Santos Limited to acquire ConocoPhillips' Australia-West and East Timorese assets and operations for $US1.39 billion ($A2.2 billion).

Woolworths Holdings: When the South African based Woolworths Holdings acquired David Jones in 2014 for $2.2b, Peter advised on the income tax implications of the transaction.  Peter also advised the group on their acquisition of a minority stake in the Country Road Group.

Macquarie and Brookfield: Advised a consortium of sellers led by Brookfield and Macquarie on the tax considerations of the US$2.15 billion sale of Quadrant Energy to Santos Limited. This is one of the most significant M&A transactions in the energy and resources sector and marks the culmination of significant due diligence, planning and negotiations following the decision by Quadrant's owners to embark on a sale of the business.

Woolworths: Clayton Utz advised Woolworths on the sale of its petrol station business and 526 petrol station sites to EG Group, an overseas entrant to the Australian market. Peter played a key role in advising Woolworths on the tax aspects of the transaction and led a team of experts covering income tax, stamp duty and GST.

Suntory Beverage & Food Limited: Peter advised Tokyo Stock Exchange listed Suntory Beverage & Food Ltd (Suntory) on the tax aspects of the sale for A$290 million of its Cerebos Food & Instant Coffee business in Australia and New Zealand and Asian Home Gourmet Singapore business to The Kraft Heinz Company (Kraft).

Tox Free Solutions Ltd: The tax team advised Tox in relation to tax implications of the scheme of arrangement with Cleanaway - the tax team was instrumental in assisting the client navigate the complexity surrounding the timing of the transaction vis a vis the intended tax outcomes for shareholders. The deal was one of the top-ten largest Australian public M&A transactions announced in 2017.

DTZ Acquisition: Peter advised a consortium on Australian income tax in relation to its proposed $1.2 billion acquisition of DTZ, a global property services business from UGL Limited. The consortium consisted of TPG Asia, Inc, Hong Kong investment manager PAG Asia Capital and Canada’s Ontario Teachers’ Pension Plan. This was a significant transaction for TPG, PAG and OTPP in the Australian market and involved cross border complexity and a broad range of structuring considerations for diverse stakeholders.

Westpac Banking Corporation: Peter advised Westpac in relation to the income tax implications of its acquisition of Lloyds Banking Group's Australian businesses.

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Private Equity

Macquarie and Brookfield: Advised a consortium of sellers led by Brookfield and Macquarie on the tax considerations of the US$2.15 billion sale of Quadrant Energy to Santos Limited. This is one of the most significant M&A transactions in the energy and resources sector and marks the culmination of significant due diligence, planning and negotiations following the decision by Quadrant's owners to embark on a sale of the business.

Pacific Equity Partners (PEP): Peter provided income tax advice in connection with the initial acquisition by PEP of the Spotless Group and the subsequent IPO.

Bain Capital: Peter advised Bain Capital on the income tax aspects of the acquisition of Retail Zoo, a leading multi-brand franchise player which includes signature brands such as Boost Juice Bars, Salsa's Fresh Mex Grill, Cibo Expresso and Hatch Chicken Shop.

DTZ Acquisition: Peter advised a consortium on Australian income tax in relation to its proposed $1.2 billion acquisition of DTZ, a global property services business from UGL Limited. The consortium consisted of TPG Asia, Inc, Hong Kong investment manager PAG Asia Capital and Canada’s Ontario Teachers’ Pension Plan. This was a significant transaction for TPG, PAG and OTPP in the Australian market and involved cross border complexity and a broad range of structuring considerations for diverse stakeholders.

See Private Equity

Taxation Disputes

Family groups: Peter advises a number of private family groups on their tax related matters including taxation disputes with the Australian Taxation Office.

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Banking and Finance

Westpac Banking Corporation: Peter advised Westpac in relation to the income tax implications of its acquisition of Lloyds Banking Group's Australian businesses.

Credit Suisse: Peter advised Credit Suisse in connection with its financing ($5b) of Fortescue Metals Group.

Corporate Bond and Debt Syndications: Peter advises various lenders and borrowers alike on the Australian income tax implications of a wide range of corporate bond and debt syndication transactions. 

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Knowledge

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