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Bain Capital LLC, BC Parners Ltd, and Goldman Sachs Capital Partners, together, own  Brachem Acquisition SCA, a Luxemborg holding company.

How do we know this?  That Bain, BC, and Goldman Sachs are the partners that own Brachem?  A recent transaction:

Private equity investors cash out of Brenntag

How can we know if there isn't a clever little accounting trick linking Bain Capital (USA) and BC Capital (UK) together?

The private equity trio, which invested in Brenntag through their Luxembourg holding company Brachem Acquisition SCA, raised a final €611 million ($751.58 million) from the share placement, more than two years after the initial public offering of March 2010.

Sadly, there is little information available about Brachem Acquisition SCA on line.  It's a secret Luxembourg entity.

For $288 D&B hints it might give up some details.

Luxembourg is the ‘Death Star’ of tax havens

Vanity Fair missed Luxembourg in their article Where the Money Lives.

Of course, we'll never know if Mitt Romney under his name, his wife Ann, or his dog has money stashed in Luxembourg or what remuneration Mitt might receive through Brachem.   That's the beauty of a secret, offshore tax haven!

But the proof that Bain does is above.

I've read enough now about Bain Capital to use the analogy that Bain's money moves around the world at speeds enviable by the God particle whizzing through the Hadron collider.

Whose money?

Austria and Luxembourg – best friends of tax criminals in Europe

I have estimated that tax abuse costs the EU €1 trillion a year.

Austria and Luxembourg are going out of their way to aid and abet those undertaking tax crime.

The Wall Street Journal has reported:

The European Commission’s head of tax slammed Austria and Luxembourg’s refusal to let it negotiate savings tax agreements for the European Union as a whole following the finance ministers’ meeting here Tuesday.

“The position that Austria and Luxembourg have taken on this issue is grossly unfair,” EU Tax Commissioner Algirdas Semeta told reporters. “They are hindering 25 willing member states from improving tax compliance and finding additional sources of income.”

He added that he’s “extremely frustrated” that ministers couldn’t agree on a mandate for the commission to negotiate new and stronger savings tax agreements with Switzerland and other countries.

“This proposal has been on the table for almost a year now,” Semeta said.

During the same year, law-abiding citizens have been bearing the brunt of austerity so that budget shortfalls can be met…Tackling tax evasion is a growth-friendly way of boosting national budgets.”

Oh, so sad for the millions of little people.

Meanwhile Bain, BC, & Goldman Sachs made sacks of gold.

Brentag IPO, March 2010

It is reported in 2011 that Brachem Acquisition is the largest shareholder with 36% of the shares:

Stephen Clark’s nomination is supported by Brachem Acquisition S.C.A. which is controlled by BC Partners funds and is Brenntag AG’s largest shareholder holding a 36% stake in the company.

Brachem Acquistion (Bain, BC, & Goldman Sachs) sold shares on June 6, 2012 as reported:

Private equity investors cash out of Brenntag

Buyout firms BC Partners Ltd. and Bain Capital LLC and the private equity arm of Goldman Sachs Group Inc. on Friday, July 6, sold the last of their holding in German chemicals distributor Brenntag AG, leaving the Frankfurt-listed company with a 100% free float.

The private equity trio, which invested in Brenntag through their Luxembourg holding company Brachem Acquisition SCA, raised a final €611 million ($751.58 million) from the share placement, more than two years after the initial public offering of March 2010.

In Friday's operation, the PE firms sold their remaining 6.87 million shares, or 13.3% of Brenntag's share capital, at €89 a share, in an accelerated bookbuilding process executed by Deutsche Bank AG and Goldman Sachs.

Including the IPO, which priced at just €50 a share, Brachem has raised a total of €2.89 billion from selling shares in the company, most recently in a €577.5 million placement in February.

It takes money to make money.

Question?  Where do Bain, BC, & Goldman take their money from in order to make all this money?

Mitt's friends flew in for a fun weekend in Park City.  They parked their rides at the Heber City (pop 11,000) airport:  TURN DOWN THE SOUND FOR THIS VIDEO!  

Somewhere in the information above there is a deeper story.  I'm just too burned out to find it.


Austria and Luxembourg – best friends of tax criminals in Europe

I blame the tethered-to-the-wealthy politicians around the world, including the U S OF A.  Have you noticed all those like Anthony Mozilo just get fined, not jailed, while getting away with pleading NO FREAKIN KNOWLEDGE OF WRONGDoING?

Good grief.

*snark  I don't have $10,000, just playing on Mitt's $10,000 bet gaf.


Originally posted to War on Error on Fri Jul 13, 2012 at 05:26 PM PDT.

Also republished by The Bain Files.


For Financial Criminals, Crime mostly pays. SEC, DOG, FBI let them pay a fine and they fly off in their private jets. IS THIS JUSTICE?

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