An intra-group reorganisation involves the transfer of group company share capital or group assets between two or more companies in the same corporate group. Reasons for intra-group reorganisations Intra-group reorganisations are carried out for a variety of reasons, although the key motivation is generally to boost administrative, operational or economic efficiencies. Reorganisations may be linked to a sale or acquisition transaction with a third party, whether: • before or after the acquisition of a company or business from a third party, or • before the sale of a group company or business to a third party Reorganisations may, however, have no connection with any third-party transaction, occurring instead when it is feasible or appropriate. Reorganisation before or after an acquisition of a company/business from a third party A group may decide to undertake a reorganisation before the acquisition of a company or business to ensure that, post-acquisition, the newly acquired company or business sits appropriately within the corporate structure of the group. However, it will not always be appropriate to implement the reorganisation before the