Questions & Answers
Necessary precautions and followed procedure in company acquisition
Dear Sir,
I am a foreign investor in a medium-sized enterprise in Limassol, with 3 other partners selling machines for tree-care like harvesting, pruning, cutting, storage...etc.
The business was not going well recently, and we have some default on payments. In the meantime, the Italian company we sell its products might be interested in the acquisition of the company.
My first question is, if we could not reach an agreement with the Italian company, what are the legal precautions we should take to avoid exhausting commitments/debts?
Second, if the acquisition happened, do we need legal representation to agree on the terms or at least revision of the offer and contracts?
Dear Sir
I understand that you are in default of some payments? If it is so, then you will need to let the Italian company know about it before they acquire your company, or you will have to pay them off before the acquisition.
With respect to the legal representation, yes it is recommended that you do engage lawyers to overlook the process for you.
I hope I have been of assistance.
