Sierra Legal present to members and suppliers of VANA
Back to news archiveSierra Legal enjoyed giving a presentation this week at the Mornington Hotel to a group of newsagent owners, various suppliers to the newsagency industry and members of the VANA Ltd Board. Our presentation shared a few practical tips and traps in selling your business, including:
- having the right corporate structure in place;
- getting your backyard in order;
- appointing your advisers early;
- working out the best sale structure;
- marketing your business;
- using a term sheet before going to formal contracts;
- allowing for due diligence by the purchaser;
- getting drafting control of the transaction documents;
- being wary of earn-outs;
- being wary of warranties in the sale and purchase agreement;
- minimising conditions precedent;
- not losing focus on your business during the sale process; and
- recognising that the deal isn’t done until completion occurs.
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