Clean team
A clean team is a team that is often formed as part of a due diligence when buying shares in companies. They are the only people who come across competitive information, such as: B. sales or customer lists come into contact.
Reason for use
The reason for using such a team is to avoid antitrust violations in transactions such as a merger of companies. Before the cooperation starts, there are two different companies that are now exchanging information between competitors. However, this is only permitted within narrow limits. There is a risk of violations of Section 1 GWB or Art. 101 TFEU. The clean team analyzes all competition law components.
Components of a clean team
The clean team consists primarily of external third parties, such as B. former employees or external consultants. In some cases, employees of the individual companies can also be used. It is important that they do not participate directly in the operative business.
In the event that the merger fails, the members should no longer be active in the operational area for a transition period.
Rough process
In the first step, members sign a confidentiality agreement. A summary of who has seen what information and when can be e.g. B. be done in a data room .
swell
- ↑ Clean teams in M&A due diligence - washing away the risk? | Lexology. Retrieved May 12, 2020 (English).
- ↑ Practical Guide to Antitrust Law in Companies . De Gruyter, 2018, ISBN 978-3-11-055054-2 , doi : 10.1515 / 9783110550542 ( degruyter.com [accessed on 12 May 2020]).
- ^ A b Peter Baisch, Anna-Maria Cardinale-Koc: Clean Team: Competitive information in due diligence. January 30, 2017, accessed June 3, 2020 .