Abstract
How and where are corporate assets traded? In this chapter, we describe how corporate asset markets work and how a generic asset transaction is designed and structured.
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Notes
- 1.
See, for example, www.aeromarkt.net for trading used aircraft, or www.genoalogisticservices.com for negotiating used containers. See also Pulvino (1998) for a description of the development of and active participants in the commercial aircraft market.
- 2.
In many jurisdictions, asset sales must be preliminarily evaluated by independent directors before being submitted for stockholders’ approval. Such transactions are subject to regulations for so-called related party transactions (RPTS), because they could result in opportunistic sales if not the outright tunneling of controlling shareholders. For an extensive discussion of the legal aspects of RPTS across international markets, see Enriques and Tröger (2019).
- 3.
In this part, we draw extensively on the discussion of the divestiture selling process presented by DePamphilis (2019, Chap. 16, pages 445–450).
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Curi, C., Murgia, M. (2020). Asset Sales: Markets and Selling Procedures. In: Asset Sales. SpringerBriefs in Finance. Springer, Cham. https://doi.org/10.1007/978-3-030-49573-2_2
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