Private Banking

1 January 2012

ING Family Business

Takeover or Demise

"The bravest and most sustainable way is to engage in the conversation. Take your time, and dare to ask even more questions".

Transferring the family business is a complex matter, a long-term process with many questions and uncertainties. In the first instance, an answer has to be found to several operational questions such as:


But just focusing on the technical aspect is not enough; the transfer of a family business is also an emotionally charged process. It is important to take into account the views of each stakeholder, starting with the family.

Some of the testimonies:

Underestimating the emotional impact of a transfer on all family members can have serious consequences. By speaking openly, the air clears, trust grows, and a shared vision of the future emerges and the chances of a successful transfer increase considerably.


Don't shy away from the conversation and start thinking about your transfer process in time.

Matteo's Madness: Takeover or Demise?

Matteo Fashion has been a family business for two generations. Jacques Matteo would like to continue this tradition and transfer the business to his sons, but Annemarie Matteo, his sister and co-owner of the business, has her doubts. She has no children of her own and has little faith in her cousins. Annemarie would prefer a management buyout or a takeover by an external party.

  • Would either of those be more financially attractive?
  • How do you determine the exact valuation of a business?
  • Does Jacques have to divulge every last one of his business secrets?
  • Do his sons actually want to continue running the stores? And what about Jacques' two daughters?

Matteo’s Madness exposes the difficulties involved in a transfer process, right from the earliest days to the (bitter?) end.

This 25-minute short film was awarded a Gold Dolphin in the 'Integrated Communication' category at the 2012 Cannes film festival. 

Matteo's Madness tells the story of the transfer of a Family Business, from the conception to the final transfer (or demise?).

Interested in other Family Business stories? Watch the videos below