Economic and social effects of buy-outs in the Netherlands
20/02/2008. This report examines the role of private equity firms in buy-outs. It is based on a study of Dutch buy-out companies conducted on behalf of the NVP and Ernst & Young by the Centre for Management Buy-out Research, The University of Nottingham, UK.

Private Equity Backed Insurance Investments
05/12/2007. Unlike the USA and some countries in the EU, the insurance industry in the Netherlands has not yet seen large scale private equity backed investment activity. An important reason often heard for the reluctance of private equity investors to step into the insurance market arena relates to alleged challenges caused by the regulatory environment applicable to insurance companies, which is believed to be more complex that the comparable industries such as banking. This article sets out some of the main features of investments in insurance companies in the Netherlands, possible solutions for the challenging regulatory framework for the private equity industry, as well as recent trends that could provide windows of opportunity.

Dutch private equity market 2006
18/07/2007. In 2006, investment by Dutch private equity companies fell by 6 per cent to more than €2.4bn, from €2.6bn the previous year, says the NVP. The drop was a direct consequence of the fact that the number of large buy-outs was very high in 2005 and fell in 2006. On the other hand, there was a considerable increase in both expansion financing and investments in seed and start-up capital. The positive exit climate caused a further increase in divestments to more than €1.7bn in 2006, from €1.5bn in 2005.

Modernisation of the Dutch Corporate Tax Act
20/03/2007. In a cash-flow driven M&A market, tax is more and more considered a key value driver. The 2007 Dutch (corporate income) tax reform recognizes the importance of tax. Its objective is to further improve the Dutch economy and investment climate by introducing tax measures that should attract foreign investors thereby providing a competitive advantage. This article highlights the proposed changes relevant to the Dutch M&A market.

The Dutch private equity market
29/11/2006. In 2005, investments by Dutch private equity firms increased substantially to €2.2bn, finds the Dutch Private Equity & Venture Capital Association, up 30 per cent from €1.7bn in the previous year. Including public information on a number of large buy-out funds, which do not participate in the survey, total investments came in at €2.6bn.

Modernisation: Dutch Corporate Tax Act 2007
22/11/2006. The Dutch Government has finally proposed new legislation to strengthen the Dutch investment climate to attract more foreign investors, says PricewaterhouseCoopers. The new Dutch rules should enter into force on 1 January 2007.

The Netherlands: White paper for 2007 corporate tax reform – update
18/10/2006. The Netherlands government published a White Paper for the 2007 corporate tax reform on 29 April 2005, explains Freshfields Bruckhaus Deringer. Entitled Working towards profits, it contained various proposals for discussion in parliament aimed at increasing the competitiveness of the Netherlands corporate tax system and making that system more EU-proof. The council of ministers approved the formal bill last week and it was sent to the state council for advice.

Modernisation of the Dutch Corporate Tax Act
20/09/2006. In a cash-flow driven M&A market, tax is more and more considered a key value driver, says PricewaterhouseCoopers. The 2007 Dutch (corporate income) tax reform recognises the importance of tax. Its objective is to further improve the Dutch economy and investment climate by introducing tax measures that should attract foreign investors thereby providing a competitive advantage. This article highlights the proposed changes relevant to the Dutch M&A market.

M&A Tax Update: Netherlands
03/05/2006. Last year the Dutch Ministry of Finance presented a memorandum outlining proposed changes to the Dutch Corporate Income Tax Act, says PricewaterhouseCoopers. The changes to the tax system are being proposed to enhance competitiveness in the Netherlands and to overcome dissimilarities as regards EU law.

The Netherlands: demergers
21/03/2006. Interest has increased in demergers and spin-offs/ split-offs in the Netherlands. This is particularly the case in transactions where part of the business of a listed company is separated and transferred to its shareholders. Possible structures include a dividend payment in kind or a legal demerger (as in Univar's legal split-off from Vopak). In this briefing, Freshfields Bruckhaus Deringer address certain key issues concerning demergers.

New public takeover regime in the Netherlands
19/10/2005. On 31 March 2005, the Dutch government published its draft legislative proposal for the implementation of the 13th EU Company Law Directive on public takeover offers, notes Freshfields Bruckhaus Deringer. In this Proposal, the Dutch government also sets out certain measures that will significantly affect the future use of anti-takeover measures in the Netherlands.

NVP survey 2004: the Dutch private equity market
27/04/2005. In 2004 the investments by Dutch private equity firms increased to € 1.7 billion from € 1.1 billion in 2003, a strong rise of almost 60%, says the NVP. The growth of the investments was driven by the developments in the buy-out segment. Investments in seed and start-up financing showed a further decline to € 37 million.

Dutch Private Equity Market Report 2003 (English summary)
23/04/2004. A total of E1.3bn of new funds was raised in the Netherlands in 2003, a rise of 43 per cent compared to the previous year. This reflects the increased importance of private equity within the Dutch economy, according to the Dutch Private Equity and Venture Capital Association, (NVP).

Bosal - opportunities under new Dutch thin capitalisation rules
02/09/2003. The European Bosal court case is set to raise a few questions in The Netherlands. Arthur Goedkoop and Tycho Surber of Deloitte & Touche examine what the response of the Dutch Ministry of Finance will be and what it means for Dutch and non-Dutch acquisitions.

Leveraging a Netherlands investment from overseas
26/02/2003. Non-Dutch parties looking to acquire the shares of, or co-invest in, a Dutch company must consider several taxation issues that have cropped up as a result of recent reforms. Arthur Goedkoop of Deloitte & Touche outlines these issues for the overseas investor.

M&A Tax Flash
05/02/2003. The mergers and acquisitions landscape in the Netherlands is constantly changing as tax and legal reforms come into fruition. M&A Tax Flash from the global transaction division at Deloitte & Touche in the Netherlands outlines the most important issues surrounding such reforms.

Developments in the venture capital industry
12/08/2002. Trends in venture capital and private equity investments in Dutch companies during 2001 were similar to those in the US and the UK. Although some companies reported major transactions and impressive valuations, many internet-related or other technology companies suffered from lower valuations. Marco de Lignie and Herman Kaemingk of Loyens & Loeff provide an overview of frequently encountered transactional items in venture capital investment documentation and of recent Dutch tax developments relevant to the venture capital industry.

The Netherlands: fuelling the life sciences industry
21/05/2002. Although relatively small, biotechnology in The Netherlands has come a long way in recent years and this sector is now flourishing in the region. Pieter Lucas of Ernst & Young examines the evolution of Dutch biotechnology and the factors that have influenced it, including venture capital.

Private equity overview - The Netherlands 2000
13/08/2001. The private equity market in the Netherlands saw a change in investment patterns in the second half of 2000. Technology investments attracted less than one third of the E1.9bn invested though investment in the more traditional sectors such as consumer and industrial products increased. Funds raised in 2000 reached E2.8bn. This EVCA overview provides the key figures.

Private equity overview - The Netherlands 1999
24/07/2001. Private equity in The Netherlands is well developed and has shown exceptional growth over the last four years. Here, the EVCA outlines some of the key figures and developments in this important market

Private equity fund structures in the Netherlands
29/05/2001. The Netherlands is a key private equity market. Knowing how Dutch fund structures work is vital to understanding the European private equity industry. Here Loyens & Loeff presents an outline of the legal and tax framework of the Dutch BV and CV.

The Netherlands private equity market - an overview
29/05/2001. The Dutch private equity market has expanded over the last few years says Loyens & Loeff. However, it experienced a slump last year and by the second half of 2000 there was a surplus of funds available for investment in the Netherlands. However, it still ranked fifth in western Europe for private equity investments made.