The Letter of Interest for Business Purchase is a critical preliminary document in Indian business acquisitions, serving as the first formal step in expressing serious intent to purchase a business. It is typically used when a potential buyer has identified a target business and wants to formalize their interest while maintaining confidentiality and potentially securing exclusivity for detailed negotiations. The document, while primarily non-binding under Indian law, sets out the fundamental parameters of the proposed transaction, including indicative pricing, scope of due diligence, and basic terms. It helps parties align their expectations early in the process and provides a framework for more detailed negotiations. Given India's complex regulatory environment, particularly under the Companies Act 2013 and various sector-specific regulations, this document helps parties identify key regulatory requirements and potential challenges early in the transaction process.
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1. Date and Parties: Full legal names and addresses of both the potential buyer and the target business owner/seller
2. Expression of Interest: Clear statement of interest in purchasing the business and purpose of the letter
3. Transaction Overview: Brief description of the proposed transaction structure and assets/business components to be purchased
4. Preliminary Purchase Price: Indicative price range or valuation methodology, subject to due diligence
5. Due Diligence Requirements: Outline of the information and access required to conduct due diligence
6. Timeline: Proposed schedule for due diligence, negotiation, and closing
7. Confidentiality: Binding provisions regarding the confidential treatment of information exchanged
8. Exclusivity: If applicable, period during which seller agrees not to negotiate with other parties
9. Non-Binding Nature: Clear statement that the LOI is non-binding except for specified provisions
10. Contact Information: Key contact persons for both parties for further communication
11. Signature Block: Space for signatures of authorized representatives from both parties
1. Financing Contingency: Include when the purchase is subject to securing specific financing arrangements
2. Break-up Fee: Include when parties want to specify compensation if the seller terminates negotiations to accept another offer
3. Key Employee Retention: Include when retention of specific employees is crucial to the transaction
4. Regulatory Approval: Include when the transaction requires specific regulatory clearances
5. Asset Preservation: Include when specific requirements for maintaining business conditions during negotiations are needed
6. Governing Law and Jurisdiction: Include when parties want to specify the applicable law and jurisdiction for dispute resolution
7. Transaction Costs: Include when parties want to specify how various transaction costs will be allocated
1. Appendix A - Preliminary Asset List: High-level list of key assets, properties, or business components intended to be included in the purchase
2. Appendix B - Due Diligence Checklist: Initial list of documents and information required for due diligence
3. Appendix C - Proposed Timeline: Detailed timeline with key milestones and deadlines
4. Appendix D - Exclusivity Terms: Detailed terms of the exclusivity arrangement if applicable
5. Appendix E - Confidentiality Terms: Detailed confidentiality provisions and requirements
Relevant legal definitions
Business
Target Company
Proposed Transaction
Purchase Price
Confidential Information
Due Diligence
Exclusivity Period
Binding Provisions
Non-Binding Provisions
Definitive Agreement
Material Adverse Change
Business Day
Closing
Transaction Documents
Assets
Intellectual Property
Key Employees
Working Capital
Regulatory Approvals
Permitted Representatives
Related Party
Group Company
Board
Shareholders
Financial Statements
Due Diligence Period
Break-up Fee
Earnest Money
Completion Date
Encumbrance
Target Company
Proposed Transaction
Purchase Price
Confidential Information
Due Diligence
Exclusivity Period
Binding Provisions
Non-Binding Provisions
Definitive Agreement
Material Adverse Change
Business Day
Closing
Transaction Documents
Assets
Intellectual Property
Key Employees
Working Capital
Regulatory Approvals
Permitted Representatives
Related Party
Group Company
Board
Shareholders
Financial Statements
Due Diligence Period
Break-up Fee
Earnest Money
Completion Date
Encumbrance
Clauses
Intent to Purchase
Transaction Structure
Purchase Price
Payment Terms
Confidentiality
Exclusivity
Due Diligence
Access Rights
Timeline
Non-Binding Nature
Binding Provisions
Expenses
Governing Law
Jurisdiction
Termination
Break Fee
Asset Preservation
Employee Matters
Regulatory Compliance
Business Operations
Representations and Warranties
Notices
Assignment
Amendment
Counterparts
Severability
Entire Understanding
Authority
Transaction Structure
Purchase Price
Payment Terms
Confidentiality
Exclusivity
Due Diligence
Access Rights
Timeline
Non-Binding Nature
Binding Provisions
Expenses
Governing Law
Jurisdiction
Termination
Break Fee
Asset Preservation
Employee Matters
Regulatory Compliance
Business Operations
Representations and Warranties
Notices
Assignment
Amendment
Counterparts
Severability
Entire Understanding
Authority
Relevant Industries
Manufacturing
Information Technology
Retail
Healthcare
Financial Services
Real Estate
Hospitality
E-commerce
Telecommunications
Professional Services
Education
Automotive
Energy
Agriculture
Construction
Media and Entertainment
Relevant Teams
Legal
Finance
Corporate Development
Mergers & Acquisitions
Strategy
Business Development
Executive Leadership
Risk Management
Compliance
Due Diligence
Relevant Roles
Chief Executive Officer
Managing Director
Chief Financial Officer
Business Development Manager
Corporate Lawyer
Investment Banker
Mergers & Acquisitions Director
Strategy Director
Due Diligence Manager
Corporate Development Officer
Legal Counsel
Finance Director
Business Owner
Entrepreneur
Board Member
Company Secretary
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