Studio Legale Mattioli assiste imprese, imprenditori, soci e investitori nelle operazioni di fusione, acquisizione e cessione di società, partecipazioni, aziende e rami d’azienda.

L’assistenza riguarda tutte le principali fasi dell’operazione: dalla valutazione preliminare della struttura negoziale alla due diligence, dalla negoziazione degli accordi fino al signing e al closing.

Lo Studio presta assistenza sia all’acquirente sia al venditore, in operazioni nazionali e cross-border, coordinandosi ove necessario con notai, commercialisti, consulenti finanziari e professionisti esteri coinvolti nella transazione.

Assistenza legale nelle operazioni M&A

Acquisizione di società e partecipazioni

Lo studio assiste imprese e investitori nelle operazioni di acquisizione di società e partecipazioni, curando gli aspetti di diritto societario e contrattuale dell’operazione.

L’assistenza comprende la valutazione preliminare della struttura della transazione, l’analisi della documentazione della società target, la negoziazione degli accordi e la definizione delle garanzie necessarie a tutelare l’acquirente.

Le risultanze delle verifiche svolte possono incidere sulla struttura dell’operazione, sul prezzo, sulle condizioni per il closing e sugli obblighi assunti dal venditore.

Cessione di società, quote e aziende

Lo Studio assiste imprenditori e soci che intendono cedere integralmente o parzialmente una società, una partecipazione, un’azienda o un ramo d’azienda.

L’attività riguarda la definizione del perimetro della cessione, la negoziazione del prezzo e delle modalità di pagamento, la disciplina delle dichiarazioni e garanzie del venditore e la gestione delle eventuali responsabilità successive al closing.

Una corretta impostazione contrattuale consente di ridurre il rischio di contestazioni dopo il perfezionamento della vendita.

Due diligence legale

La due diligence legale consente di individuare i principali rischi giuridici relativi alla società o all’attività oggetto dell’operazione.

La verifica può riguardare la struttura societaria, i principali contratti commerciali, i rapporti di lavoro, la proprietà intellettuale, i finanziamenti, il contenzioso e gli aspetti regolamentari rilevanti.

L’obiettivo è valutare se le eventuali criticità debbano essere risolte prima del closing oppure disciplinate nel contratto di acquisizione mediante garanzie, indennizzi, condizioni sospensive o altri strumenti di tutela.

Share deal e asset deal

Un’acquisizione può essere realizzata mediante l’acquisto delle partecipazioni della società target oppure attraverso l’acquisto diretto dell’azienda o di un ramo d’azienda.

Nello share deal l’acquirente acquisisce la società con i relativi rapporti giuridici, attività e passività.

Nell’asset deal vengono invece individuati i beni, i rapporti e le passività che costituiscono oggetto del trasferimento.

La scelta della struttura deve essere valutata alla luce delle caratteristiche dell’operazione e delle relative conseguenze societarie, contrattuali, lavoristiche e fiscali.

Lettere di intenti e accordi preliminari

Le trattative possono essere precedute dalla sottoscrizione di una lettera di intenti, di un term sheet o di altri accordi preliminari.

Tali documenti possono disciplinare il perimetro dell’operazione, la valutazione indicativa, l’esclusiva negoziale, la riservatezza, lo svolgimento della due diligence e la tempistica prevista per la conclusione della transazione.

È importante individuare con chiarezza quali disposizioni abbiano natura vincolante e quali rappresentino soltanto elementi della trattativa.

Contratto di acquisizione – SPA

Nelle operazioni di acquisizione di partecipazioni, il principale documento contrattuale è normalmente lo Share Purchase Agreement.

Lo SPA disciplina il trasferimento delle partecipazioni, il prezzo, le condizioni dell’operazione e le rispettive responsabilità delle parti.

Particolare attenzione viene dedicata alle dichiarazioni e garanzie del venditore, agli obblighi di indennizzo, agli eventuali limiti di responsabilità, alle condizioni sospensive e ai meccanismi di determinazione o aggiustamento del prezzo.

Signing e closing

La sottoscrizione del contratto e il perfezionamento del trasferimento possono avvenire contestualmente oppure in momenti differenti.

Quando signing e closing sono separati, il contratto deve individuare le condizioni da soddisfare prima del trasferimento definitivo e disciplinare i rapporti tra le parti nel periodo intermedio.

Lo Studio assiste nella predisposizione e verifica dei documenti necessari al closing e nel coordinamento delle attività con notai, commercialisti, consulenti finanziari e altri professionisti coinvolti nell’operazione.

Operazioni M&A cross-border

Studio Legale Mattioli assiste anche in operazioni che coinvolgono società, soci o investitori esteri.

Le operazioni cross-border richiedono particolare attenzione al coordinamento tra differenti ordinamenti giuridici, alla documentazione contrattuale in lingua inglese e ai rapporti tra consulenti italiani e stranieri.

Lo Studio opera abitualmente in italiano e in inglese e può interfacciarsi direttamente con management, legal department e professionisti esteri coinvolti nella transazione.

Assistenza legale per acquisizioni e cessioni societarie

Studio Legale Mattioli assiste imprese, imprenditori e investitori nelle operazioni di acquisizione e cessione societaria, intervenendo sull’intera transazione oppure su singole fasi dell’operazione.

L’assistenza può comprendere la valutazione preliminare, la due diligence legale, la negoziazione degli accordi, la predisposizione dello SPA e il supporto al signing e al closing.

Per una valutazione preliminare dell’operazione è possibile contattare lo Studio indicando le parti coinvolte, la struttura della transazione e lo stato delle trattative.

Acquiring an Italian company requires careful assessment of the target, its corporate structure, contractual relationships, liabilities and regulatory position.

We assist foreign buyers throughout the acquisition process, from the initial assessment and legal due diligence to negotiation, signing and closing.

Where required, we coordinate with the client’s foreign legal advisers, accountants, tax advisers, financial consultants and the Italian notary.

Our role is to identify legal risks, protect the buyer’s interests and provide a clear contractual framework for the transaction.

Acquiring an Italian company requires careful assessment of the target, its corporate structure, contractual relationships, liabilities and regulatory position.

We assist foreign buyers throughout the acquisition process, from the initial assessment and legal due diligence to negotiation, signing and closing.

Where required, we coordinate with the client’s foreign legal advisers, accountants, tax advisers, financial consultants and the Italian notary.

Our role is to identify legal risks, protect the buyer’s interests and provide a clear contractual framework for the transaction.

Legal due diligence is a key stage in the acquisition of an Italian company or business.

We review the legal position of the target in order to identify liabilities, contractual risks and issues that may affect the transaction, the purchase price or the contractual protections required by the buyer.

Depending on the transaction, the review may cover:

• corporate structure and corporate records;
• shareholders’ agreements and governance;
• material commercial contracts;
• financing and guarantees;
• employment matters;
• pending or threatened litigation;
• intellectual property rights;
• real estate and lease agreements;
• regulatory and compliance matters;
• other liabilities relevant to the proposed acquisition.

The scope of the due diligence is agreed with the client according to the size, structure and value of the transaction.

Representations, warranties and indemnification provisions are a central part of an acquisition agreement.

We assist foreign buyers in negotiating contractual protections relating to matters such as corporate ownership, financial liabilities, commercial contracts, litigation, employment, intellectual property, compliance and other risks affecting the target company.

Where a specific liability or risk has already been identified during due diligence, we can assist in negotiating appropriate protections, including:

• specific indemnities;
• conditions precedent;
• purchase price adjustments;
• escrow arrangements;
• retention mechanisms;
• limitations and exclusions of liability;
• survival periods and claim procedures.

The objective is to allocate transaction risks clearly and ensure that the acquisition agreement reflects the issues identified before signing and closing.

Representations, warranties and indemnification provisions are a central part of an acquisition agreement.

We assist foreign buyers in negotiating contractual protections relating to matters such as corporate ownership, financial liabilities, commercial contracts, litigation, employment, intellectual property, compliance and other risks affecting the target company.

Where a specific liability or risk has already been identified during due diligence, we can assist in negotiating appropriate protections, including:

• specific indemnities;
• conditions precedent;
• purchase price adjustments;
• escrow arrangements;
• retention mechanisms;
• limitations and exclusions of liability;
• survival periods and claim procedures.

The objective is to allocate transaction risks clearly and ensure that the acquisition agreement reflects the issues identified before signing and closing.

Representations, warranties and indemnification provisions are a central part of an acquisition agreement.

We assist foreign buyers in negotiating contractual protections relating to matters such as corporate ownership, financial liabilities, commercial contracts, litigation, employment, intellectual property, compliance and other risks affecting the target company.

Where a specific liability or risk has already been identified during due diligence, we can assist in negotiating appropriate protections, including:

• specific indemnities;
• conditions precedent;
• purchase price adjustments;
• escrow arrangements;
• retention mechanisms;
• limitations and exclusions of liability;
• survival periods and claim procedures.

The objective is to allocate transaction risks clearly and ensure that the acquisition agreement reflects the issues identified before signing and closing.

Representations, warranties and indemnification provisions are a central part of an acquisition agreement.

We assist foreign buyers in negotiating contractual protections relating to matters such as corporate ownership, financial liabilities, commercial contracts, litigation, employment, intellectual property, compliance and other risks affecting the target company.

Where a specific liability or risk has already been identified during due diligence, we can assist in negotiating appropriate protections, including:

• specific indemnities;
• conditions precedent;
• purchase price adjustments;
• escrow arrangements;
• retention mechanisms;
• limitations and exclusions of liability;
• survival periods and claim procedures.

The objective is to allocate transaction risks clearly and ensure that the acquisition agreement reflects the issues identified before signing and closing.

Representations, warranties and indemnification provisions are a central part of an acquisition agreement.

We assist foreign buyers in negotiating contractual protections relating to matters such as corporate ownership, financial liabilities, commercial contracts, litigation, employment, intellectual property, compliance and other risks affecting the target company.

Where a specific liability or risk has already been identified during due diligence, we can assist in negotiating appropriate protections, including:

• specific indemnities;
• conditions precedent;
• purchase price adjustments;
• escrow arrangements;
• retention mechanisms;
• limitations and exclusions of liability;
• survival periods and claim procedures.

The objective is to allocate transaction risks clearly and ensure that the acquisition agreement reflects the issues identified before signing and closing.

Representations, warranties and indemnification provisions are a central part of an acquisition agreement.

We assist foreign buyers in negotiating contractual protections relating to matters such as corporate ownership, financial liabilities, commercial contracts, litigation, employment, intellectual property, compliance and other risks affecting the target company.

Where a specific liability or risk has already been identified during due diligence, we can assist in negotiating appropriate protections, including:

• specific indemnities;
• conditions precedent;
• purchase price adjustments;
• escrow arrangements;
• retention mechanisms;
• limitations and exclusions of liability;
• survival periods and claim procedures.

The objective is to allocate transaction risks clearly and ensure that the acquisition agreement reflects the issues identified before signing and closing.

Representations, warranties and indemnification provisions are a central part of an acquisition agreement.

We assist foreign buyers in negotiating contractual protections relating to matters such as corporate ownership, financial liabilities, commercial contracts, litigation, employment, intellectual property, compliance and other risks affecting the target company.

Where a specific liability or risk has already been identified during due diligence, we can assist in negotiating appropriate protections, including:

• specific indemnities;
• conditions precedent;
• purchase price adjustments;
• escrow arrangements;
• retention mechanisms;
• limitations and exclusions of liability;
• survival periods and claim procedures.

The objective is to allocate transaction risks clearly and ensure that the acquisition agreement reflects the issues identified before signing and closing.

Representations, warranties and indemnification provisions are a central part of an acquisition agreement.

We assist foreign buyers in negotiating contractual protections relating to matters such as corporate ownership, financial liabilities, commercial contracts, litigation, employment, intellectual property, compliance and other risks affecting the target company.

Where a specific liability or risk has already been identified during due diligence, we can assist in negotiating appropriate protections, including:

• specific indemnities;
• conditions precedent;
• purchase price adjustments;
• escrow arrangements;
• retention mechanisms;
• limitations and exclusions of liability;
• survival periods and claim procedures.

The objective is to allocate transaction risks clearly and ensure that the acquisition agreement reflects the issues identified before signing and closing.

Representations, warranties and indemnification provisions are a central part of an acquisition agreement.

We assist foreign buyers in negotiating contractual protections relating to matters such as corporate ownership, financial liabilities, commercial contracts, litigation, employment, intellectual property, compliance and other risks affecting the target company.

Where a specific liability or risk has already been identified during due diligence, we can assist in negotiating appropriate protections, including:

• specific indemnities;
• conditions precedent;
• purchase price adjustments;
• escrow arrangements;
• retention mechanisms;
• limitations and exclusions of liability;
• survival periods and claim procedures.

The objective is to allocate transaction risks clearly and ensure that the acquisition agreement reflects the issues identified before signing and closing.

Representations, warranties and indemnification provisions are a central part of an acquisition agreement.

We assist foreign buyers in negotiating contractual protections relating to matters such as corporate ownership, financial liabilities, commercial contracts, litigation, employment, intellectual property, compliance and other risks affecting the target company.

Where a specific liability or risk has already been identified during due diligence, we can assist in negotiating appropriate protections, including:

• specific indemnities;
• conditions precedent;
• purchase price adjustments;
• escrow arrangements;
• retention mechanisms;
• limitations and exclusions of liability;
• survival periods and claim procedures.

The objective is to allocate transaction risks clearly and ensure that the acquisition agreement reflects the issues identified before signing and closing.

Representations, warranties and indemnification provisions are a central part of an acquisition agreement.

We assist foreign buyers in negotiating contractual protections relating to matters such as corporate ownership, financial liabilities, commercial contracts, litigation, employment, intellectual property, compliance and other risks affecting the target company.

Where a specific liability or risk has already been identified during due diligence, we can assist in negotiating appropriate protections, including:

• specific indemnities;
• conditions precedent;
• purchase price adjustments;
• escrow arrangements;
• retention mechanisms;
• limitations and exclusions of liability;
• survival periods and claim procedures.

The objective is to allocate transaction risks clearly and ensure that the acquisition agreement reflects the issues identified before signing and closing.