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Corporate Finance/M&A

12 August 2020
Marija Blagojevic Transaction price mechanisms in times of COVID-19

Austria - Schoenherr

In times like these, parties should consider the key parameters of a contemplated transaction even more carefully. In addition to factors such as pricing, process timelines and contractual undertakings, parties must properly consider the COVID-19 pandemic's potential economic effects on targets when structuring a deal. This article outlines the differences between the two main purchase price mechanisms that can help to alleviate such economic effects and the pros and cons of each.

Authors: Marija Blagojevic, Alfred Amann
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Christopher Jones Secured lending in Guernsey

Guernsey - Ogier

Guernsey entities continue to be popular in asset-holding structures and, accordingly, lenders are regularly asked to put in place financing arrangements involving Guernsey entities. This article provides an overview of the mechanism under Guernsey law for the creation and enforcement of security over certain Guernsey-situated assets, such as the shares in a Guernsey company, certain contract rights and monies in a Guernsey bank account.

Authors: Christopher Jones, Matthew Macfarlane
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Richard Daggett Private equity and the response to COVID-19

International - Ogier

It is said that even though some parts of the private equity industry are in need of triage, it can survive the implications of COVID-19 because it has sufficient capital already raised but not deployed – its 'dry powder'. Funds' ongoing investment in their portfolio companies is what generates long-term returns on exit. However, that use of dry powder is not always about the growth of a company – sometimes it is about keeping the company going during tough times.

Author: Richard Daggett
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Recent updates

Charlotte Brown Practical comparison between two of Guernsey's most flexible regulated fund products

Guernsey - Ogier

Author: Charlotte Brown
Gwenaëlle de Kerviler How to close a deal during lockdown… and in the future

France - AyacheSalama

Authors: Gwenaëlle de Kerviler, Alain Levy, Valérie Attia
Will Pearce Regulatory scrutiny of M&A transactions: United Kingdom extends power to intervene in foreign takeovers

United Kingdom - Davis Polk & Wardwell LLP

Authors: Will Pearce, William Tong, Nicholas Spearing, Matthew Yeowart