Seller Loans
A vendor loan (including vendor loan ) is a decision taken on the purchase of shareholdings agreement whereby the seller to the buyer defers the purchase price in whole or in part, and the buyer loan provides. A vendor loan clause is then regularly the subject of company purchase agreements .
Due to the subordination of the seller in the event of insolvency to all other debt capital claims , the vendor loan is regarded as (economic) equity .
By excluding third parties who finance third parties, the vendor loan can create a special relationship of trust between seller and buyer. This is especially true in the event that an acquisition only includes a minority stake in order to enter into a long-term strategic partnership. In this context, the vendor loan is also often linked to earn-out clauses, according to which the final purchase price at a later point in time is fully or partially defined by other performance indicators (e.g. profits, dividends , etc.).
See also
Individual evidence
- ↑ FinanzLexikon ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ^ Die neue Unternehmensfinanzierung, p. 251, Stadler, Wilfried (editor), Redline Wirtschaft, Frankfurt 2004, ISBN 3-636-01086-7
