Sale of a Company

The ownership of a company was to change, to a German Group. Due to legal complexities surrounding the potential future liability associated with the final salary pension scheme operated by the original group and including the employees, the deal was changed from a corporate sale to a sale of assets and liabilities into a new company.

We assisted the Financial Director as and when required, with organising changes such as VAT registration, change of bank account, insurance cover and credit reference continuity, to ensure that the business would continue to run without interruption over the period of the change of balance sheet ownership.

The company was pleased with the outcome of the credit reference continuity work as their rating increased. This resulted partly from the rating associated with the new holding company, but mainly from establishing direct contact with the account managers at the relevant credit reference agencies and providing them with specific information they required.