Richard Sultman’s practice focuses on corporate taxation (together with transaction taxes such as VAT and stamp duties), with an emphasis on mergers and acquisitions, corporate finance, capital markets, and financial products.

Richard’s practice also includes the tax aspects of debt restructurings, distressed debt acquisitions, and various kinds of investment fund formation and management. He also regularly advises on related matters relevant to the taxation of individuals, including investors, managers, and employees.

Richard joined the firm in 2004 and became a partner in 2010. He was resident in the New York office from 2006 to 2007. Prior to Cleary, he was a solicitor in the London and New York offices of another major international law firm.

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Notable Experience

  • Wockhardt Limited, the global pharmaceutical and biotechnology major, in its agreement with the UK government to fill finish COVID-19 vaccines for the United Kingdom.

  • TAG Airport Limited and others, in the sale of Farnborough Airport to Macquarie European Infrastructure Fund 6 (MEIF6), a fund managed by Macquarie Infrastructure and Real Assets (MIRA).

  • The Coca-Cola Company on the combination of the businesses of Coca-Cola Enterprises, Coca-Cola Iberian Partners, and Coca-Cola Erfrischungsgetränke to form a new Western European bottler to be called Coca-Cola European Partners, creating the world’s largest independent bottler of Coca-Cola products.

  • Schroders plc, the FTSЕ 100-listed investment manager, on its agreement to acquire Adveq, a Switzerland-based provider of specialist private equity solutions.

  • Warburg Pincus and General Atlantic in relation to their joint venture with Banco Santander, S.A. to form Santander Asset Management.

  • Bekaert in its joint venture with Bridon UK to form Bridon-Bekaert Ropes Group.

  • Bank of America Merrill Lynch in the sale of its non-U.S. wealth management business to Julius Baer Group.

  • A leading sovereign wealth fund in its acquisition, as part of a consortium, of a 61% stake in National Grid’s gas distribution business; and in its acquisition, together with Glencore, of 19.5% of the shares in Rosneft, the Russian oil company.

  • Hillhouse in its acquisition of The Loch Lomond Group.

  • Thales on the divestment of its General Purpose Hardware Security Module (GP HSM) business to Entrust Datacard.

  • OCI in its landmark strategic fertilizer partnership with Abu Dhabi National Oil Company.

  • ArcelorMittal in the divestiture of steel plants in accordance with EU competition regulations to achieve regulatory approval for the purchase of Ilva.

  • Bemis in its $6.8 billion merger with Amcor.

  • Lavazza in its acquisition of the Mars Drinks from Mars.

  • McCormick & Company in its $4.2 billion acquisition of Reckitt Benckiser’s food business.

  • Google in the acquisition of DeepMind Technologies.

  • OpenText Corporation in its $1.62 billion acquisition of Dell EMC’s Enterprise Content Division.

  • MBK Partners and its affiliates (Canada Pension Plan Investment Board, Public Sector Pension Investment Board, and Temasek Holdings) in the $6.4 billion acquisition of Homeplus Co., Ltd. and its subsidiaries from Tesco PLC.

  • TPG in the auction sale of UK portfolio companies TES and THE; and in the formation and structuring of TPG Specialty Lending Europe, a business development company focused on loan origination to European middle-market companies.

  • Lafarge S.A. in its 50:50 joint venture with Anglo American plc to combine their UK cement, aggregates, ready-mixed concrete, asphalt, and contracting businesses to form Lafarge Tarmac.

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