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Contract Merger Template for Nigeria

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Key Requirements PROMPT example:

Contract Merger

"I need a Contract Merger document under Nigerian law for combining two fintech companies, with specific provisions for Central Bank of Nigeria compliance and data protection requirements, targeted for completion by March 2025."

Document background
The Contract Merger document is a fundamental legal instrument used in Nigerian corporate restructuring to facilitate the combination of two or more companies. It is essential when companies wish to consolidate their operations, assets, and liabilities into a single entity, whether through absorption or the creation of a new company. This document must comply with Nigerian legislation, particularly the Companies and Allied Matters Act (CAMA) 2020, Investment and Securities Act (ISA) 2007, and Federal Competition and Consumer Protection Act (FCCPA) 2018. The merger contract outlines all crucial aspects of the transaction, including share exchange ratios, treatment of assets and liabilities, employee matters, and regulatory compliance requirements. It is typically used in situations ranging from domestic corporate consolidations to cross-border mergers, requiring careful consideration of Nigerian regulatory requirements and market conditions.
Suggested Sections

1. Parties: Identification of the merging entities, including full legal names, registration numbers, and registered addresses

2. Background: Context of the merger, including brief description of each company's business and rationale for the merger

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation

4. Agreement to Merge: Core terms of the merger, including the structure (e.g., absorption or consolidation) and effective date

5. Consideration: Details of the merger consideration, including share exchange ratios or cash payments

6. Conditions Precedent: Conditions that must be satisfied before the merger can complete, including regulatory approvals

7. Pre-Completion Obligations: Obligations of each party between signing and completion, including conduct of business requirements

8. Completion Mechanics: Detailed process for completion, including timing, location, and actions required

9. Representations and Warranties: Statements of fact and assurances given by each party about their business and affairs

10. Employee Matters: Treatment of employees post-merger, including terms of employment and benefits

11. Assets and Liabilities: Treatment of assets and liabilities of the merging entities

12. Governing Law and Jurisdiction: Specification of Nigerian law as governing law and jurisdiction for disputes

13. Confidentiality: Obligations regarding confidential information and announcements

14. Notices: Process for giving formal notices under the agreement

15. General Provisions: Standard boilerplate clauses including entire agreement, amendments, and severability

Optional Sections

1. Tax Provisions: Detailed tax treatment and allocations - include when tax implications are significant or complex

2. Intellectual Property: Specific provisions for IP transfer and protection - include when significant IP assets are involved

3. Real Estate: Specific provisions for real estate transfer - include when significant property assets are involved

4. Competition Compliance: Detailed competition law compliance provisions - include when merger requires FCCPC approval

5. Break Fee: Provisions for break fee payment - include when parties agree to break fee arrangements

6. Foreign Investment Provisions: Specific provisions relating to foreign investment - include when foreign entities are involved

7. Regulatory Compliance: Industry-specific regulatory compliance - include for regulated industries like banking or insurance

Suggested Schedules

1. Schedule 1 - Properties: List and details of all real estate owned or leased by the merging entities

2. Schedule 2 - Intellectual Property: List of all IP rights owned or licensed by the merging entities

3. Schedule 3 - Material Contracts: List and details of all material contracts to be transferred

4. Schedule 4 - Employees: List of employees and their key terms of employment

5. Schedule 5 - Share Capital: Details of share capital structure and shareholders of merging entities

6. Schedule 6 - Completion Actions: Detailed list of actions required at completion

7. Schedule 7 - Warranties: Detailed warranties given by each party

8. Appendix A - Form of Transfer Instruments: Pro forma transfer documents required for completion

9. Appendix B - Corporate Authorizations: Forms of board and shareholder resolutions required

10. Appendix C - Regulatory Filings: Forms of required regulatory notifications and filings

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

















































Clauses









































Relevant Industries

Banking and Financial Services

Manufacturing

Technology

Telecommunications

Real Estate

Energy and Natural Resources

Healthcare

Retail and Consumer Goods

Agriculture

Transportation and Logistics

Professional Services

Construction

Media and Entertainment

Relevant Teams

Legal

Finance

Corporate Development

Human Resources

Compliance

Risk Management

Board Secretariat

Operations

Strategy

Mergers & Acquisitions

Corporate Communications

Investor Relations

Tax

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Legal Officer

Chief Operating Officer

Managing Director

Corporate Secretary

Head of Mergers & Acquisitions

Legal Counsel

Finance Director

Human Resources Director

Integration Manager

Compliance Officer

Risk Manager

Board Member

Company Secretary

Investment Banker

Corporate Development Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Contract Merger

A Nigerian law-governed agreement establishing the terms and conditions for merging two or more companies into a single entity, ensuring compliance with CAMA 2020 and other relevant regulations.

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Merger Implementation Agreement

A Nigerian law-governed agreement setting out the terms and mechanics for implementing a merger between two or more companies.

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Letter Of Intent Mergers And Acquisitions

A preliminary document under Nigerian law outlining the proposed terms and conditions for an M&A transaction, establishing the framework for negotiation and due diligence.

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