We helped acted the principal shareholder/director of on the sale of an unquoted a PLC public company, an insurance agent regulated by the Financial Conduct Authority, in the sale of their business. The buyer, to a private company also operating in the insurance sector. , The buyer wanted the company taken private prior to completing the acquisition.
We handled all aspects of the sale of the company including the re-registration of the company as a private company, liaising with the Takeover Panel and Companies House. The re-registration and subsequent takeover of an FCA regulated business required the consent of the FCA which we assisted the client in obtaining.
We also advised on the good and bad leaver provisions added to the share purchase agreement (SPA) which have a bearing on the deferred consideration payable under the SPA.