Panellists urge PE buyers to dig deeper in due diligence

Increasing Foreign Corrupt Practices Act (FCPA) enforcement means buyers asking probing questions about target companies no longer risk competitive disadvantage, since there is now a greater acceptance in favour of more thorough due diligence among both buyers and sellers, heard delegates at Latin Lawyer Live 9th Annual Private Equity.

Panellists urge PE buyers to dig deeper in due diligence Credit: Maria-Leticia Ossa Daza, William Haegele, Richard Fogarty & Rafael Boisset

Pushing for transactional data – a list of payments made by the target company over a period of time – might have put a private equity buyer at a competitive disadvantage five years ago, but nowadays it is more common. “Any push to get transactional data was not accepted by the seller and the deal teams would push back. I heard over and over again ‘you’re going to put us at a competitive disadvantage by asking for that information,’” said William Haegele, a partner at KPMG who focuses his practice on Brazil. “Now the deal teams that work on the transactions are more accepting of a slightly deeper dive into the issues.”



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