Konieczny Wierzbicki Law Firm facilitated the process of disinvestment of the fund invested in total 40.000.000 PLN of private/public money into companies in sectors of: sports’ gear, marketing, apps, e-recruitment, strategic planning etc.
The disinvestment process started in the second half of 2018 and still continues. The disinvestment required the preparation of business strategy of the fund, re-negotiation of the agreement with the public shareholder, related, i.e. to the distribution of profits, and preparation of different exit strategies and supporting legal documents.
So far, the particular steps of the disinvestment included: taking control of the company, enforcing receivables from bond, selling shares, dividing a company by separation and subsequent sale of one of those companies, selling the company to a professional investor in Luxemburg.
Each transaction required establishing relevant securities of payment for the fund, obtaining consents of the Investment Committee of the fund (incl. a public shareholder), verifying tax consequences and securing possible revaluation of the target company (earn-out clauses).