Document background
The Business Acquisition Agreement is a fundamental document in Nigerian corporate transactions, used when one company intends to acquire another company or its assets. It serves as the primary transaction document that outlines all aspects of the business acquisition, from purchase price and payment terms to representations, warranties, and post-closing obligations. The agreement must comply with Nigerian legislation including the Companies and Allied Matters Act 2020, Investment and Securities Act 2007, and Federal Competition and Consumer Protection Act 2018. It's particularly crucial in ensuring proper documentation of the transaction structure, risk allocation between parties, and compliance with regulatory requirements. The document typically requires input from various stakeholders and often involves regulatory approvals, especially for transactions meeting certain thresholds under Nigerian law.
