Sale of Asset

Sale of Asset

 

Are you a company who is looking to increase their BBBEE points?

Need an approved partner with BBBEE credentials?

Do you possibly have an approved BBBEE partner but you require some cash?

Are you looking to sell or buy an asset?

— well, we have the solution for you: SALE OF ASSET.

 

Let Advance Corporate Advisors help you achieve the full benefits of a ‘Sales of Assets’ transaction.

The Black Economic Empowerment regulatory environment was gazetted in earnest on 9 February 2007, when the Broad-based BEE Codes of Good Practice came into being. This initial Code made provision for external ownership credits to be achieved by a measured entity upon the sale of an asset to another entity (“associated enterprise”), and claim an ownership percentage and points on a pro rata basis if the associated enterprise had within itself, a certain percentage of Black Ownership.

The Sale of Asset terms contained in the 2007 Codes, and the amended provisions of the statement deals with the ambit of application of this mechanism, and states broadly that a qualifying transaction includes the sale of, “an asset; a business; or equity instruments in an entity.”

The general principle is that if, “A Seller that has concluded a transaction involving a sale of asset, equity instrument or business of a separately identifiable related business, may claim the benefits provided for in th(e) statement in its own ownership scorecard.”

Does this seem like a dealing that would interest you?

Contact Advance Corporate Advisors.