Buyouts

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Buyouts guidance:

This Practice note provides an overview of the agreement for the purchase of some or all of a company's assets (the APA). See Precedent: Asset purchase agreement—long...

Practice Note

This Practice Note provides an overview of the agreement for the sale and purchase of shares in a private limited company (target): the share purchase agreement (SPA)....

Practice Note

This Practice Note is part of the Lexis®PSL Corporate private equity buyout transaction toolkit. Timing Preparation of a first draft of the share purchase agreement (SPA)...

Practice Note

This Practice Note provides a basic introduction to the key parties and documents involved in an acquisition finance transaction together with links for more detailed...

Practice Note

The allotment of shares and issue of shares is governed by statute and the applicable statutory provisions differ according to the type of company that is proposing the...

Practice Note

Auction processes play an important role in particular industries, for example, in the private equity industry or in government privatisations, or in large value...

Practice Note

Auction processes play an important role in particular industries, for example, in the private equity industry, in government privatisations, or in large value...

Practice Note

The UK has voted to leave the EU. Brexit or the date when the UK formally leaves the EU as defined in the European Union (Withdrawal) Act 2018 (Exit Day) can occur either...

Practice Note

In an asset purchase, the buyer purchases only those assets and assumes only those liabilities it wishes to acquire: • sometimes an asset purchase is the purchase of an...

Practice Note

Buyout is a generic term usually used to describe the acquisition by a management team, backed with equity finance from a private equity investor, of an established...

Practice Note

The key documents for a buyout are: • a sale and purchase agreement • articles of association for the investee company or its parent company which will serve as the...

Practice Note

This Practice Note summarises the main tax issues arising for the UK acquisition group in a private equity-backed buyout. In particular the note: • describes the tax...

Practice Note

Entrepreneurs' relief is a capital gains tax (CGT) relief designed to encourage individuals to set up and expand their own businesses. Provided that the conditions are...

Practice Note

A company having a share capital may have separate classes of shares. As a general rule, a type of share will form a separate class from other shares in a company if the...

Practice Note

This Practice Note is part of the Lexis®PSL Corporate private equity buyout transaction toolkit. Timing Completion of the private equity buyout (MBO) transaction will...

Practice Note

This Practice Note is part of the Lexis®PSL Corporate private equity buyout transaction toolkit. Conducting due diligence will involve reviewing documents made available...

Practice Note

The following provides an overview of confidentiality agreements in the context of the acquisition of shares in a company (the target). A confidentiality or...

Practice Note

Consideration Consideration may be paid in many ways, and it may also be adjusted post-completion as a means of reflecting true value for a buyer. From the seller's point...

Practice Note

The CRC Energy Efficiency Scheme (the CRC Scheme) was abolished following the 2018/19 compliance year, in accordance with the announcement made by HM Treasury (HMT) in...

Practice Note

The CRC Energy Efficiency Scheme The CRC Energy Efficiency Scheme (CRC Scheme) is a mandatory UK-wide emissions trading scheme in the UK that aims to cut carbon dioxide...

Practice Note

This Practice Note considers the nature of shares in a company and the classes into which they can be divided. If a company has shares of different classes, then class...

Practice Note

This Practice Note is part of the Lexis®PSL Corporate private equity buyout transaction toolkit. The disclosure process involves the preparation of separate disclosure...

Practice Note

This Practice Note is part of the Lexis®PSL Corporate private equity buyout transaction toolkit. In order to effect all aspects of the acquisition component of a private...

Practice Note

This Practice Note is part of the Lexis®PSL Corporate private equity buyout transaction toolkit. In order to effect all aspects of the equity component of a private...

Practice Note

This Practice Note is part of the Lexis®PSL Corporate private equity buyout transaction toolkit. Once the parties have agreed the broad terms of a commercial deal,...

Practice Note

This Practice Note is part of the Lexis®PSL Corporate private equity buyout transaction toolkit. Drafting the articles The private equity investor's...

Practice Note

This Practice Note is part of the Lexis®PSL Corporate private equity buyout transaction toolkit. Drafting the investment agreement The private equity investor's lawyers...

Practice Note

This Practice Note is part of the Lexis®PSL Corporate private equity buyout transaction toolkit. Drafting the share purchase agreement The private equity investor's...

Practice Note

This Practice Note is part of the Lexis®PSL Corporate private equity buyout transaction toolkit. Timing Due diligence will normally be carried out after the parties have...

Practice Note

This Practice Note provides an overview of the purpose, nature and scope of the due diligence process that is carried out by a potential buyer prior to the acquisition of...

Practice Note