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17.05.2024 | KPMG Law Insights

Podcast series “KPMG Law on air”: When the family business is to be sold

Around 38,000 family businesses are currently handed over each year. In most cases, the change of ownership takes place within the family. But more and more families are deciding to sell. The reasons for this are, for example, that the younger generation has often already gained their own professional experience in other places or studied far away and is increasingly reluctant to return to their home town. Furthermore, the younger generation is less willing to adopt fixed corporate structures and wants more entrepreneurial freedom and work-life balance than their parents had.

Different interests come together in family businesses, not just monetary ones

The sale of a family business poses different challenges than other transactions. The family is often unprepared when the previous management suddenly leaves due to illness or death. The decision to sell is sometimes very emotional and different interests often come together that are not just of a monetary nature. This can lead to conflicts or fuel existing conflicts. Sometimes it is not even clear who has the say in the company. This is because there are sometimes family members behind the official management who have been involved in decisions in the past.
No two family businesses are the same. In any case, good and open communication between all family members is crucial for the success of a transaction. Our experts Mark Uwe Pawlytta and Peter Plennert report on their consulting practice in the podcast.

The contents of the podcast:

  • From minute 1:14: Why so many family businesses are up for sale today.
  • From minute 7:00: What is the process until the decision to sell is made?
  • From minute 10:10: Recurring issues in the sale of family businesses
  • From minute 15:17: The most important tips for the transaction process

All “KPMG Law on air” episodes can be found here.

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Contact

Mark Uwe Pawlytta

Partner
Head of Succession and Foundation Law

THE SQUAIRE Am Flughafen
60549 Frankfurt am Main

tel: +49 69 951195012
mpawlytta@kpmg-law.com

Peter Plennert

Senior Manager

Fuhlentwiete 5
20355 Hamburg

tel: +49 40 3609945013
pplennert@kpmg-law.com

© 2024 KPMG Law Rechtsanwaltsgesellschaft mbH, associated with KPMG AG Wirtschaftsprüfungsgesellschaft, a public limited company under German law and a member of the global KPMG organisation of independent member firms affiliated with KPMG International Limited, a Private English Company Limited by Guarantee. All rights reserved. For more details on the structure of KPMG’s global organisation, please visit https://home.kpmg/governance.

 KPMG International does not provide services to clients. No member firm is authorised to bind or contract KPMG International or any other member firm to any third party, just as KPMG International is not authorised to bind or contract any other member firm.

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