Overview

Share sale of a historic hat company founded in 1700 by an international designer department store.

Case Study

Ison Harrison were instructed by an international designer department store(Client) to dispose of one of its high-profile subsidiaries (Target) as part of its internal corporate re-organisation. Working alongside a broker and the Client’s own in-house legal team, the Ison Harrison team negotiated the heads of terms and assisted in the initial bidding process; providing legal and commercial advice around the best structure of the transaction for the Client.

Once a preferred buyer had been identified, we, in conjunction with the broker, set up a data site and co-ordinated the respective parties to provide the necessary documents and answer the buyer’s questions.

Unfortunately, the initial buyer pulled out and the transaction appeared to be unlikely to complete which would have resulted in the liquidation of the Target, whose origins date back over 250 years. However, a new potential buyer was quickly identified, and the transaction completed on a very tight timescale so as to prevent the Target from entering into liquidation and the loss of a  business that had been trading for in excess of 300 years.

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If you would like further information about how the team at Ison Harrison can assist in-house legal teams with corporate restructuring, or mergers and acquisitions, please contact us.