Crown Oil

With the core businesses moving in a new direction, it was time to reassess the group's position, and it was decided to demerge the mains gas business from the wider group. This was not an easy task, but Azets worked directly with Crown Oil's Director, Adrian Greenhalgh, and his team, taking them through every step of the process.

Adrian explains: “ Demerging our gas business from the group took a number of years, and Azets were heavily involved throughout. It was an incredibly complex process, both legally and from a tax perspective - it was a very big project.”

One of the most important tasks when it came to demerging the gas business was to find a new key supplier to partner with and negotiate mutually beneficial terms of business. This proved to be a lengthy process but the whole team were dedicated to getting it over the line.

Adrian says: “ The gas transaction probably took around five years overall. There were some breaks in that timeline during complex negotiations that Azets were assisting with, but things really picked up speed over the last two years and we got it over the line and signed on the 31st of December. The team at Azets worked with me throughout the Christmas holidays to ensure we finished the year on a high.”

Not only did we put in the work to make sure the demerger and new supplier agreement was finalised, we also thoroughly and transparently outlined the tax implications. Because Crown Oil is such a large business, it's important that they keep track of their obligations to HMRC.

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