Leteyski: Structuring foreign acquisitions as asset transfers requires careful infrastructure separation
Ruslan Leteyski · Startup Acquisition Stories with Ruslan Leteyski, Founder & CEO of Checkout X · Jun 13, 2023 · at 6:27
Ruslan Leteyski, founder of Vanga AI, explains how being a Bulgarian entity with shared tooling required an asset sale rather than selling the legal corporate entity.
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“Because we're a Bulgarian entity. So I was not gonna sell the company. But I needed to figure out how I'm gonna transfer the assets. So even before I started listing, I had to figure out how we can transfer the infrastructure. As I mentioned, we had other projects. So this is a thing like we have different tooling that we need to figure out with the team, how we gonna separate. So the preparation actually started one or two months before that. And then I made a plan. If I have a buyer, I need to do these like 50 steps in action, in order to actually transfer the company.”
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