De Brauw Advises The Concertgebouw On Its Historic Jubilee Share Issue

Profession:De Brauw Blackstone Westbroek N.V.
 
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In honour of its 125-year jubilee, the Concertgebouw is offering depositary receipts for shares in Het Concertgebouw N.V. The goal of this issue is to pass on this internationally acclaimed institution in good condition to coming generations. The path leading up to the jubilee issue was legally unique and highly innovative.

De Brauw acted as legal adviser to Het Concertgebouw N.V. and Stichting Het Concertgebouw Funds for this share issue. This concerned a unique legal project: a cultural institution issuing depositary receipts for shares, the focus of the issue being almost entirely the Dutch public. And with the pre-condition that purchasing the depositary receipts would be for the most part tax deductible and that Het Concertgebouw N.V. might receive the status of a non-profit institution in the future.

Joost Schutte, partner at De Brauw and counsel to the jubilee issue, comments: "De Brauw could flex its full expertise and innovative abilities in the areas of corporate law and capital markets. And a number of entirely new questions arose along the way during the project which needed an answer. Questions such as whether it is attractive from a tax point of view that subscribers...

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