Unternehmenskauf by Ursula Katharina Wolter - Bookswagon
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Unternehmenskauf

Unternehmenskauf


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About the Book

Studienarbeit aus dem Jahr 2003 im Fachbereich BWL - Recht, Note: 2,0, Hochschule für Wirtschaft und Umwelt Nürtingen-Geislingen; Standort Nürtingen (Wirtschaftsrecht), Sprache: Deutsch, Abstract: Der Management Buy-Out, eine der besten Möglichkeiten für leitende Angestellte sich selbständig zu machen. Sie übernehmen einfach das Unternehmen, welches Sie bisher schon weites gehend eigenständig geführt haben. Diese Möglichkeit bietet mit Sicherheit mehr Chancen am Markt zu bestehen, als eine völlige Neugründung einer Firma, da meist ein festes Standbein im Markt existiert. Allerdings ist die Übernahme eines bereits bestehenden Unternehmens oft ein recht kostspieliges Unterfangen. Für die Initiierung eines MBOs gibt es drei verschiedene Interessengruppen. Zum einen aus der Sicht des Verkäufers/Veräußerers der Altunternehmer selbst, und auf der anderen Seite aus der Sicht des Käufers/Erwerbers das Management, aber auch die Finanzinvestoren. Der Angemessenheit des Kaufpreises und damit zusammenhängend der Finanzierungsstruktur kommt eine überaus große Bedeutung für das Gelingen jedes MBO zu. Eine zu hohe Verschuldung kann für das Unternehmen eine existenzbedrohende Last sein, ein zu hoher Eigenmittelanteil kann hingegen von vornherein die Renditeaussichten für die neuen Eigentümer verringern. Die finanzierenden Banken strukturieren dann gemeinsam mit dem Finanzinvestor und dem Management auf der Grundlage ihrer eigenen Planungsrechnung mittels Szenario-Analysen das Finanzierungspaket meist bestehend aus Eigen-, Nachrang- und Fremdkapital. Grundlegend ist zu beachten, dass MBO- und LBO-Verträge normale Unternehmenskaufverträge darstellen und diese auch als solche zu behandeln sind. Lediglich die Bewertung des Unternehmens im Rahmen einer Due Diligence ist durch die Insiderkenntnisse des Managements weniger aufwendig bzw. kann unter Umständen sogar ganz entfallen. Bei einer unmittelbaren Übernahme erwerben die Manager die Anteile am Zielunternehmen selbst und finanz


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Product Details
  • ISBN-13: 9783638692182
  • Publisher: Grin Publishing
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Spine Width: 3 mm
  • Weight: 132 gr
  • ISBN-10: 3638692183
  • Publisher Date: 18 Jul 2007
  • Height: 210 mm
  • No of Pages: 52
  • Series Title: German
  • Sub Title: Management Buy Out
  • Width: 148 mm


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