Deal structure

Asset sales and share sales

Updated 2026-09-01

This guide is general information about how business sales are often discussed in Australia. It is not financial, legal, tax or investment advice, and it does not recommend any listing on Business Hosting.

In an asset sale, the buyer purchases selected assets and sometimes takes on selected liabilities. The company that previously owned them may remain with the seller.

In a share sale, the buyer purchases shares in the company that owns the business. Contracts, employees and liabilities may stay inside that company, subject to the agreement and the law.

Leasehold and freehold property are separate questions. A business can be sold with a lease to be assigned, with owned premises, or without the premises.

The deal structure field on a listing is the seller’s description. It is not a contract.