Closing is the date and act by which an M&A transaction is definitively completed: transfer of title to the shares or assets, payment of the purchase price and satisfaction or waiver of all conditions precedent. It follows signing (execution of the SPA) and may occur simultaneously or weeks later, pending regulatory approvals (antitrust, sectoral authorisations) and financing arrangements. The closing package — the full set of documents and attestations exchanged at closing — is prepared in advance with the legal counsel of both parties.

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Example: the signing of a CHF 35.0 million acquisition of a Swiss industrial group occurs on March 15. Closing is conditional on COMCO (Swiss Competition Commission) approval, obtained on April 28. Formal closing takes place on May 3: share transfer at the commercial register, wire transfer of the net closing price (adjusted for working capital and cash) and delivery of the closing package documents.

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Hectelion coordinates M&A closings in close collaboration with legal counsel to ensure smooth and secure execution for all parties.