The Letter of Interest to Buy a Business is a crucial initial document in business acquisition processes within the Nigerian market. It serves as a formal expression of intent from a potential buyer to a business owner, initiating the acquisition process while maintaining legal flexibility. This document type is commonly used when a serious buyer wants to formally communicate their interest in purchasing a business while setting the stage for due diligence and detailed negotiations. The letter typically includes preliminary terms, buyer credentials, and proposed next steps, all within the framework of Nigerian business law and practices. While not legally binding for the main transaction, it often precedes more formal documents such as Memorandums of Understanding or Share Purchase Agreements. The document must comply with Nigerian corporate regulations, particularly the Companies and Allied Matters Act (CAMA) 2020, while being adaptable for both domestic and international business transactions.

1. Letterhead and Date: Professional letterhead of the interested buyer and current date

2. Recipient Details: Full name, title, and address of the business owner or authorized representative

3. Subject Line: Clear indication that this is a Letter of Interest to purchase the business

4. Introduction: Brief introduction of the potential buyer and statement of interest in purchasing the business

5. Business Identification: Clear identification of the target business, including its legal name and location

6. Purchase Interest: Specific expression of interest and initial proposed terms of purchase

7. Buyer's Credentials: Brief overview of buyer's background, financial capability, and relevant experience

8. Preliminary Terms: Outline of basic terms including rough price range if known and general payment terms

9. Due Diligence Request: Expression of intent to conduct due diligence and request for access to necessary information

10. Timeline: Proposed timeline for next steps and potential transaction completion

11. Confidentiality Statement: Brief statement about maintaining confidentiality of discussions

12. Closing and Contact: Professional closing, contact information, and signature