Heard about this at the local pub.
A think tank research group has issued a 200+ page report into what it calls legal tax avoidance by a certain company.
ExUrbe states that Peel have 320 registered companies and that there is "no doubt that legal tax avoidance is being practised"
Page 2 of the press article.
http://www.liverpooldailypost.co.uk/...23-32983337/2/
Part of the article.
Peel declined to make any comment on the ExUrbe report.
"Complex web of Peel companies exposed by think tank Exurbe
PEEL has 320 registered companies and subsidiaries in the UK, according to the Exurbe research.
The think tank said there is “no doubt” Peel practices legal tax avoidance.
It notes that this is not uncommon for a conglomerate but makes probing into its “labyrinthine” affairs difficult.
Its ultimate parent company is called Tokenhouse Limited, registered off shore in the tax haven of the Isle of Man.
And the ultimate controlling entity of Peel’s companies is the Billown Trust, established by chairman John Whittaker.
The Billown Trust owns 73% of Peel.
The remainder of Peel is owned by Saudi Arabian firm the Olayan Group.
Olayan has a vast array of interests across the globe.
Exurbe’s report also poses the question as whether Peel practices ‘Predatory Capitalism or Providential Corporatism’?
After examining the company’s modus operandi in 200-plus pages Exurbe leaves open the question and says ultimately it is for the reader to decide."