Mergers & Acquisitions
Mergers, demergers and transfers for large companies and start-ups

Extraordinary operations such as mergers and demergers require specialized skills – especially when dealing with cross-border matters.

Our PFL legal team has established experience providing legal counsel on mergers, demergers and transfers – also acting as an intermediary between clients and the other companies involved. Our team, through an international network of professional collaborations, can also provide clients assistance on these types of operations in Europe and beyond.

Our legal team also closely collaborates with business professionals specialized in extraordinary operations making sure that clients’ interests are always protected. This includes making sure that antitrust regulations are adhered to – as well as commitments made with third party operators are not violated.

Extraordinary Operations

The term ‘extraordinary operation’ covers all aspects of preparing a company for a merger or any other type of transfer of share capital. It can also include corporate restructurings or reorganizations – in some cases through the liquidation of dormant companies.
The nature of these operations varies according to the business activity and its situation – and must also take the specific objectives of the client into consideration.


There are two main types of mergers. The first is a merger by union where the old companies are extinguished, and a brand-new entity is established. The second is a merger by incorporation where one company is absorbed by the other.
Both types require the drafting of a merger plan, complete with reasons for the merger and the financial position of each entity involved. PFL provides strategic counsel on all of the aspects involved with mergers – also evaluating potential issues which might emerge at a later date.

Cessation of Business

When an entrepreneur transfers an entire company to another person, this is referred to as a transfer of business. Just like with mergers, there are preliminary steps which must be taken before an operation can be completed. The work of our firm is to help facilitate the legal aspects of the necessary intermediate steps – including counsel on the state of existing contracts as well as receivables and payables – before the final contract is drafted for signature.

Generational Change

PFL can provide strategic counsel in terms of developing and implementing generational handover plans in order to help facilitate the change of management and ensure that corporate know-how is not lost in the process.
Without a professional guide in this area, there is potentially a higher risk that a business crisis could emerge in the future.

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PFL works closely with clients in every situation, supporting them with professionals who provide counsel on numerous specialized areas of law.