Generationsskifte af et hovedaktionærselskab indenfor familien

Ib Gringer Hansen

Student thesis: Master thesis


The thesis is written for the Master Course in Business Economics and Auditing, Cand. Merc. Aud., at Copenhagen Business School. The object of this thesis has been to study and analyse the opportunities for generational successions in a company with a majority shareholder. The thesis is based on legislation, rulings, educational books ect. Through the thesis, the theory is used on a case company, BYG ApS, which is facing a generational successions in the near future. The thesis starts with a chapter that analyses some of the considerations that should be done before generational succession is carried out, and account for the considerations to identify the right successor. This chapter is followed by an analysis of the different types of models to find an accurate valuation of the company in a transaction between closely related people. The following chapter accounts for different types of reconstructions to optimize the group structure and preparing the business for the generational succession. The chapter describes how to get a holding company by exchange of shares and transfer of assets. In addition is the regulations concerning division of the companys activities described and analyzed. The reconstrution part is followed by a chapter which is going through the models of generational succession. The methods to be analysed is to hand over the company or a part hereof as a gift, to complete a sale of the shares, transfer by using A- and B-shares or using the regulations of fisical succession. The chapter analyses the consequences of the differente models for both the owner and the successor. Finally the generational succession models are compared on the parameters time horizon, taxation, the companys opportunity of survival and the borrowing requirement. The conclusion on the thesis is, that the right methods depends on the concerned parts wishes and needs, but the existing laws encompasses a lot of opportunities.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2012
Number of pages99