Private equity – dedicated to offshore

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The FT notes:

At a time when governments are launching a fierce assault on tax havens, the [part of] Fortis now owned by the Dutch government is pressing ahead with plans to sell a tax administration and structuring business.

While it might seem an inopportune time to sell a business helping groups to pay as little tax as possible, several private equity offers have been made for Intertrust close to its €350m ($490m) asking price.

General Atlantic, CVC Capital Partners and Permira are among those private equity groups that decided to push ahead with first-round bids for Intertrust. This week they were waiting to hear if they had reached the second round.

Looks like private equity is pretty dedicated to maintaining offshore abuse by private equity then.

I guess some things don’t change.

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