Dates
13 July 2010
8 December 2010
8 March 2011
5 July 2011
18 October 2011
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
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
| Times |
Cost |
Solicitors Regulation Authority (SRA)
CPD Hours |
| 09.30 - 17.00 |
£575.00 +VAT
(£675.63) |
6 |
IN ADDITION TO THE PUBLIC DATES ABOVE, THIS COURSE CAN ALSO BE TAILORED TO YOUR REQUIREMENTS AND DELIVERED IN-HOUSE FOR YOU.
 PLEASE CIRCULATE THIS PDF AMONG YOUR COLLEAGUES!
IF YOU HAVE ANY QUESTIONS ABOUT THIS SEMINAR PLEASE WRITE TO US AT post@redcliffetraining.co.uk
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