Sale of membership interest in a holding company
Our firm offered legal assistance in a transaction for the transfer of membership interests in a holding company owning the majority shares of a Belgian company leader in the manufacturing and marketing of chemical products. The sale and purchase agreement has been signed during the peak of the emergency related to the spreading of Covid-19 and included provisions whereby the price was calculated according a “locked-box” mechanism, to avoid the detrimental impacts potentially deriving from the pandemic crisis., better protecting the interests of the clients selling their shares.
The completion of the transaction also required an extensive negotiation with the minority shareholders finalized, inter alia, to sign a settlement agreement to finally end existing claims and prevent future liability actions against corporate bodies. For those aspects covered under Belgian law the firm was assisted by a local well reputed firm.