Chaeum has successfully advised and represented a Korean IP management service company (the “Company”) for sales of its shares to a UK-based global company(the “Purchaser”). The Purchaser appreciated value of the Company’s extraordinary quality services and offered to acquire 100% of its shares.
We, Chaeum, have advised the existing shareholders of the Company with respect to all aspects of the transaction, including dealing with various inquiries which have been brought up by the Purchaser’s attorneys during the course of due diligence, negotiation of the share purchase agreement which was written both in Korean and English, the closing of the transaction, and various reporting and disclosure requirements in Korea.
The Purchaser was quite particular on certain provisions, which are generally available under the share purchase agreement for the Purchaser’s hedging of risks, such as representations and warranties, covenants, indemnification and non-competition, and Chaeum has negotiated and successfully reached an agreement on the wordings to the extent to which the shareholders were happy to accept. Chaeum’s attorneys personally attended on the closing, which took place on 23 November 2020, and ensured that the transaction was duly completed.
Chaeum has vast experiences in dealing with cross-boarder transactions, including share deals such as this case, as well as acquisition and sales of business or assets. Should you require any assistance for your cross-border transaction in Korea, please simply contact us.