1 Types of transaction:
How may businesses combine?
In accordance with Ukrainian law, mergers may be performed in two ways: as a consolidation and as a joining. Both types of merger entail termination of at least one merging company by means of transfer of all its assets, rights and obligations to its legal successor.
Consolidation is a merger when two or more companies merge, creating a new one. In this case the companies that merge cease their legal existence and all their assets, rights and obligations are transferred to a new company established as a result of the merger.
Joining is a merger when one company joins another existing company. In this case a company, which is joining to the existing company, ceases its legal existence and all its assets, rights and obligations are transferred to the existing company.
Originally published in Getting the Deal Through – Mergers & Acquisitions 2013.
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