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In Summary: Waterfront's Corporate Seminar

Jul 10, 2012

On 10th May 2012 Waterfront's corporate team hosted a joint seminar on ‘Realising Maximum Value From the Sale of Your Private Company’ with chartered accountants Wilder Coe LLP and M&A advisers Fusion Corporate Partners.  

The evening began with Bee Lean Chew, a partner at Wilder Coe LLP, explaining the different valuation methodologies and current practices used by accountants to value private companies.   Paul Slight, a director of Fusion Corporate Partners, then provided some much needed guidance on how to approach and negotiate with potential buyers, covering pre-sale planning and preparation, the information memorandum and targeting buyers, including the use of "ticklers" and "teasers".   Matthew Cunningham and Phillipa Hobbins of Waterfront’s corporate team dealt with the legal aspects of the sale process. Matthew covered pre-sale legal due diligence, confidentiality agreements and negotiating heads of terms. He also considered the main provisions of the share purchase agreement, including warranties, indemnities and limitations of liability. Phillipa explained the process of legal due diligence and the importance of making full disclosure, and covered the drafting and negotiation of the disclosure letter.   Tim Cook, at partner at Wilder Coe LLP, then explained the importance of tax planning, and considered the various tax charges that may arise in connection with the sale of a private company and the reliefs that may be available to the sellers.   The evening ended with Daniel Lee, the founder of Globrix and a long standing client of Waterfront, speaking about his experiences in relation to the sale of Globrix and answering questions from the audience. Daniel provided a valuable insight into the sale process from an owner’s point of view.   If you would like any further information about the topics covered in this seminar please email Matthew Cunningham at