Benjamin N. Lucas

As part of his tax planning practice, Mr. Lucas helps clients navigate the tax aspects of domestic and cross-border restructurings, post-acquisition integration, debt and equity financing and other financial transactions. He also advises clients on the tax aspects of their business operations, including inbound and outbound international transactions, treasury functions and hedging activities, and tax credits and deductions.

Clients in the financial and asset management industries regularly seek Mr. Lucas’ counsel on a wide range of tax issues related to investment funds, market making, algorithmic trading and financial products. In addition to providing fund formation and tax-efficient fund structuring advice, Mr. Lucas guides clients on the tax aspects of their trading and investment activities and the tax treatment of transactions in various securities, commodities, derivatives and cryptocurrencies.

Mr. Lucas also maintains a robust transactional practice, advising on corporate and partnership M&A and capital markets transactions. Selected representations include:

• Manulife Financial Corporation (Canada) in its acquisition of a 75% stake in Comvest Credit Partners through its global wealth and asset management segment for $938 million upfront and $338 million in future milestone payments
• D.E. Shaw Renewable Investments, L.P. in a $1.7 billion acquisition of a significant minority stake by funds managed by Macquarie Asset Management (Australia)
• Becton, Dickinson and Company on the tax aspects of the tax-free spin-off of its diabetes care business into an independent, publicly traded company called Embecta Corp.
• Becton, Dickinson and Company in its $1 billion offering of 1.957% notes due 2031
• Becton Dickinson Euro Finance S.à r.l. (Luxembourg), as issuer, and Becton, Dickinson and Company, as guarantor, in a €600 million offering of 1.213% notes due 2036
• Becton, Dickinson and Company in its €900 million offering notes in two tranches: €400 million of 0.000% notes due 2023 and €500 million of 0.034% notes due 2025, and a concurrent €1.8 billion offering of notes by its subsidiary Becton Dickinson Euro Finance S.à r.l. (Luxembourg) in two tranches: €900 million of 0.334% notes due 2028 and €900 million of 1.336% notes due 2041
• Barclays PLC (United Kingdom) in its tax equity investment in an 455 MW direct current and 350 MW alternative current solar project in Texas
• Barclays Capital Holdings, Inc. in connection with its tax equity investment in the Prairie Ronde Solar Project, a 180 MW solar project being developed by Lightsource Renewable Energy US, LLC in St. Landry Parish, Louisiana
• Mars, Incorporated in its reorganization to combine its chocolate and Wrigley segments to create Mars Wrigley Confectionery
• PT Holdings, LLC in Parts Town LLC’s acquisition of Encompass Supply Chain Solutions, Inc.
• PT Holdings, LLC in its acquisitions of K&D Factory Service Inc. and Pine Tree Food Equipment

In conjunction with his tax planning and transactional practice, Mr. Lucas assists clients with tax controversies and dispute resolution in connection with IRS audits and administrative proceedings, as well as in litigation. Selected representations include:

• Susquehanna International Group, LLP in a case before the U.S. Tax Court involving the taxation of dividends paid on Swiss equities. The case raised important questions regarding the interpretation of IRC Section 246 and the extent to which the IRS is bound by its regulatory guidance
• Commonwealth Bank of Australia in a tax dispute in the U.S. Court of Federal Claims brought in connection with the U.S. taxation of financial transactions undertaken by the Australian bank. The case involves important issues relating to the interpretation of the U.S.-Australia Tax Treaty and its application to the bank’s U.S. branch
• a taxpayer in connection with obtaining an advanced pricing agreement on transfer pricing and ancillary tax issues involving both U.S. and U.K. tax authorities

In recognition of his work, Mr. Lucas has been named one of Best Lawyers ’ Ones To Watch in America.

Mr. Lucas has served as an adjunct professor at George Washington University Law School, teaching a J.D. course on corporate income taxation.