Foreign acquisitions

Foreign acquisitions of Polish entrepreneurs

Acquisitions are among the processes that accompany the development of an economy. In developed countries, they are one of the basic methods of implementing company strategies. Practice shows that Polish companies are increasingly deciding on acquisitions abroad.

Financing

In this context, an investor may consider not only traditional sources of capital, but also instruments available only for foreign acquisitions, such as obtaining a passive co-investor in the form of the PFR TFI S.A. foreign expansion fund.

Specific local regulations

Depending on the sector in which the target company operates, there may be specific regulations (e.g. Exon-Florio in the US or similar regulations in France or Japan) that significantly increase transaction costs on the part of the investor or even entitle the competent authorities to block the acquisition.

Limitations of non-compete clauses

The EC Communication on restrictions directly related and necessary to concentrations (2005/C56/03) will apply to cross-border transactions with a Community dimension. It introduces time (generally 2 to 3 years) and territorial restrictions on non-competition clauses in investment agreements

Specificity of the risks identified during due diligence

In the course of due diligence, risks may come to light which, in the Polish reality, we would describe as material and which would put the completion of the transaction in question. However, it may be that these risks are largely acceptable in the chosen country.

Local cultural background

For example, when scheduling a transaction in France or Italy, the investor should take into account that it will not be possible to negotiate in August, as it is the holiday season.

Find out how we can help you:

Support at the initial stage, i.e. target search, signing of non-disclosure agreement.
Conducting due diligence of the foreign entity.
Preparation of transaction documentation for investment in a foreign entity.
Negotiation of legal terms of the transaction.
Support in negotiating the business terms of the transaction.
Legal support in obtaining approvals of the relevant authorities (e.g. antitrust) for the transaction.
Assisting until the closing of the transaction.

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