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The sale of shares in a company is a common means by which ownership can be changed. Key features of a share sale agreement are:
There are also advantages for the buyer:
Once agreement in principle has been reached between a seller and buyer (particularly in relation to the valuation of the company and price to be paid), it is advisable for the parties to enter into heads of agreement.
The heads of agreement will contain the essential terms of the transaction, they will form the basis upon which the legal documents can be drafted and will help to ensure that time is used efficiently moving forward. The heads of agreement are generally not legally binding, with the exception of exclusivity (for the buyer) and confidentiality (for the seller).
The sale and purchase agreement will vary considerably from one transaction to the next, but some of the most significant points are as follows:
Risktec provides specialist risk management consulting and training to national and international organisations and public bodies. It included group companies in the United States, Glasgow and the Middle East and was owned by its employees.TUV Rheinland is one of, if not, the largest German industrial provident society in Germany.
Myerson solicitors were involved in a transaction managing a sale process with over 100 shareholders. We also provided a data room for this deal and worked closely with our Employment and Property Teams.
First Choice operated a national network of safety, security and access control systems with a broad range of clients including local authorities and blue-chip companies. With First Choice being a plc, we liaised with the Takeover Panel and dealt with its re-registration as a private limited company. We also provided and managed the data room for this deal and worked closely with our Employment and Property Teams.
After successfully acting on the sale of Thornley Groves Estate Agents to Lomond Capital in 2013, we acted for Birmingham-based John Shepherd Lettings who were also acquired by Lomond Capital in 2014.
Shepherds had 4 branches across Birmingham with a substantial letting and management portfolio. We also provided a data room for this deal and worked closely with our Employment and Property Teams.
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Mohammed Akeel Latif
Akeel is a Partner and Head of the Corporate Commercial department at Myerson
Scott is a Partner in our Corporate and Commercial department
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Joanna is a Solicitor in our Corporate Commercial department.
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