Business sales can be exciting opportunities for parties that embark prudently on the process. Establishing a well thought out plan could be a very lucrative moment for a company. It is important that all parties involved understand the agreements they are signing. This allows them to avoid any current or future issues with the sale or acquisition.
A Baton Rouge specialty chemicals maker is selling three of its businesses. The company is selling businesses and assets related to its antioxidants, propofol and Ibuprofen businesses. Some company resources in Baton Rouge will be impacted by the sales, however, the company stated that the Baton Rouge plant is not being sold. The acquiring company, based on New York, calls the acquisition the biggest deal in the company's history. The chemicals maker announced that the sale will allow it to focus on previously announced growth plans for its specialty chemicals business.
The company also noted that it continues to manufacture pharmaceutical products. The chemicals maker employs about 3,900 people and the deal is expected to close later in 2014. According to reports, the sale is subject to "customary closing conditions." The sale or acquisition of a business can be an exciting process for any company and will require many important considerations. It is important that the right questions be asked and correct answers provided. When the sale of assets is involved, thorough and accurate documentation will be required.
Like all business transactions, at times, the sale of a business can lead to disagreements or disputes that can sometimes result in business litigation. Companies involved in business sales and other types of business transactions will likely make every effort to avoid business litigation but sometimes disputes still arise. Because the sale and purchase of assets can be an involved process, it is important to have a proper understanding and knowledge of the process and the proper response if disputes arise.
Being thorough and having proper guidance during the sales and acquisitions process can be critical for a successful company looking to execute its business goals. An informed understanding can lead to a smooth process and successful outcome and future.
Source: The Advocate, "Albemarle selling three business sectors," Bill Lodge, April 21, 2014