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How to sell a (bankrupt) company

Journal

International Review of Finance

Subject

Finance

Publishing details

International Review of Finance 2012 Vol 12:2 p 197-226

Authors / Editors

Cornelli F;Felli L

Publication Year

2012

Abstract

This paper suggests a way to sell a company that maximizes the proceeds from the sale. The key to this proposal is the option left to the seller to retain a fraction of the shares of the company. Indeed, by retaining the minority stake, the seller can transfer the control of the company while reducing to a minimum the rents that the sale of the company leaves in the hands of the buyer. We then focus on two main applications of this idea: bankruptcy procedures and carve-outs.

Available on ECCH

No


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