
At-Will Exit in JV Agreements: Eject Buttons Often Come with Strings Attached
Practical guidance on structuring a critical provision in a JV agreement
Tracy Branding Pyle is a Managing Director at Ankura who specializes in helping organizations navigate complex transactions, and, in particular, joint venture-related transactions. She works with a wide array of U.S. and international companies across industries to help them structure, negotiate, approve, and launch joint ventures to set these ventures up for success. She additionally advises on governance of individual joint ventures and portfolios of joint ventures to help companies to minimize risk, increase efficiencies, and find value. Prior to joining Ankura, Tracy practiced law at Hogan Lovells, where she advised clients on joint ventures, public and private mergers and acquisitions, and corporate governance matters. Tracy is based in Washington, DC.
View Full ProfilePractical guidance on structuring a critical provision in a JV agreement
Ankura analyzed how long JVs last and how JVs terminate using a sample of 537 material JVs. We benchmarked JV lifespans and how lifespans vary by industry, region, number of partners, and disposition approach.
The hidden logic for holistically structuring exit terms in joint ventures.
JV transactions have complexities not found in traditional M&A – yet they’re often executed without the help of investment bankers. That can create pitfalls in the deal process.
Why JV negotiations are uniquely challenging