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Buying or Selling a Business

Buying or selling a business takes one of two forms.  This will be either the transfer of share ownership (in the case of a company) or the transfer of the business assets. The choice of which form to use will depend on financial and tax considerations. The detailed terms of the contract, the legal due diligence and implementation of the agreement are in the hands of your lawyers.

Sale of shares

The sale of shares enables a business to be transferred as a going concern without the need to realise any of its assets. This may minimise potential problems over continued employment of employees, capital gains tax associated with particular assets, transfer of licences and consents, and so on. Our solicitors can advise on the Heads of Agreement, and draft or answer the legal and commercial questionnaire. For the purchaser we prepare the legal due diligence report and the sale & purchase agreement.  For the seller we advise on warranties and the disclosure letter.  We prepare and deal with the arrangements and documents for completion and with post-completion work.

Transfer of assets

The transfer of assets enables the purchaser to select the assets that they wish to acquire but if the business is sold as a going-concern, the Transfer of Undertakings Regulations will transfer the staff with all their employment rights intact. We advise on the legal due diligence, the staff issues and on the contract of sale.  Advice may be required in relation to the transfer of the premises. There may be a number of complex issues to be addressed and we work with the other advisers to the business to try to ensure that the right outcome is achieved.

Our solicitors work tenaciously for our clients and we do all we can to ensure that their transaction proceeds smoothly and efficiently.

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Lawbridge Grant Saw
Roxby House
20-22 Station Road
Sidcup
Kent DA15 7EJ. 

Email UsTel : 020 8308 3610
Fax : 020 8338 3070

 

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