Selling a Company

Date 3 May 2012 / 26 Sept 2012
Times 09:30 - 17:00
Cost £525.00 + VAT (£630.00)
SRA CPD Hours 6

Course Overview:

The objective of a seller should be to achieve the highest price subject to the least onerous terms and to walk away from a transaction with measurable and finite liabilities.

This course examines common errors and pitfalls in the disposal process and emphasises strategies for realising a maximum value for a seller whilst limiting the legal redress of a buyer.

Procedures for valuing a company and for the planning, negotiation and execution of its sale are described together with the meaning and effect of representations, warranties and indemnities.

The course also reviews the principal points to be negotiated in the Sale & Purchase Agreement to limit a seller’s liability.

Course Content:

Introduction

  • Typical mistakes in disposals
  • Reasons for selling
  • Planning for success
  • Preliminary considerations

Valuation

  • Initial guidelines
  • NAV, DCF & PERs
  • Valuation by comparison

Pre-sale planning

  • Appointment of advisers
  • Disclosure to advisers
  • Engagement letter and fees
  • ‘Sell side’ due diligence
  • Preparing the management
  • Grooming and separation issues

Executing the sale

  • Writing an Information Memorandum
  • Searching for a buyer
  • Confidentiality Letter
  • Letter of Intent & Heads of Agreement
  • Sale & Purchase Agreement

Negotiations

  • Preparatory tactics
  • Arguments on valuation
  • Exclusivity
  • Representations, warranties and indemnities
  • Limitation of seller’s liability
  • Earn-outs

Legal considerations

  • Completion accounts
  • ‘Locked box’ transactions
  • Avoiding unprofessional tactics
  • Completion

 “Exhaustive material, good explanation, supporting examples helped understand material completely”

“The course gave a well-balanced insight into the drivers of a deal from the perspectives of a buyer, seller and advisor”

Delivering this course in-house for you to a number of participants could be very cost effective. Please call us on 020 7387 4484 to discuss this further.

If you have any questions about this seminar please write to us at post@redcliffetraining.co.uk.

Book and confirm your place

Course Cost

£525.00 + VAT

Looking to book more than one course? Please click here.

Contact us if you are looking to book multiple participants as we offer discounts as follows:

  • 1-2 participants - full price
  • 3-4 participants - 15% discount
  • 5-6 participants - 20% discount
  • 7-8 participants - 25% discount
  • Over 9 participants - 30% discount