Letter of Intent: Share Purchase multiple sellers group

£50.00 exc VAT

Letter of intent for the sale by multiple sellers of a company which has one or more subsidiaries.  It outlines the principal sale terms on a non-legally binding basis with legally-binding provisions covering confidentiality, exclusivity and costs.

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When do I use this document?

  • for a proposed transaction involving the sale of a company including one or more subsidiaries
  • where the target company is owned by multiple shareholders
  • to set out the principal agreed terms for the transaction on a non-legally binding basis
  • as a preliminary step before preparing long form agreements
  • to save time and future discussion and negotiation on the transaction documents

What are the key features?

  • comprehensive letter of intent covering aspects such as:
    • principal sale terms
    • shareholdings of the sellers
    • various consideration options, including upfront consideration at closing, deferred consideration, earnout consideration and completion accounts adjustment
    • conditions for the transaction
    • principal terms of the Share Purchase Agreement
  • transaction process and timetable
  • legally binding provisions addressing:
    • exclusivity for the buyer for a defined period (if agreed)
    • confidentiality of the letter of intent
    • costs
    • governing law and jurisdiction

What other documents are available?

For alternative forms of letter of intent for a company sale transaction, see:

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