Define the transaction
Choose to sell 80% of existing equity. The draft reveals no public identity.
CHODAT INVEST DEAL JOURNEY
Learn how to buy part of a company.
You are the buyer. Linh shows exactly where to click, from exploring an opportunity to receiving shares. No prior M&A vocabulary needed.
1 role · 12 learning steps · Fictional data
FICTIONAL TRANSACTION · No real money is transferred
CHODAT INVESTLearning example · No real money moves
80%Target stake
You are AnBuyer
Mai · Company owner
Progress stays in this tab only. Reloading or changing language starts a new lesson. Advanced practice has separate progress.
01 / Guided play
Your deal simulation
FICTIONAL TRANSACTIONSouthern Vietnam packaging business · FictionalNo real money is transferred
Isolated scenario · Main journey unchanged
Prepared learning checkpoint; earlier steps are assumed.
Prepared learning checkpoint; earlier steps are assumed.
Changing perspective grants no authority. Every task checks its actor and conditions.
Explore each participant’s role
02 / Explore each participant’s role
What is your role?
Choose a perspective to see your work and the people you coordinate with.
03 / Challenges: when a deal runs into trouble
Challenges: when a deal runs into trouble
Choose a situation to resolve. Each challenge uses separate data; you can return to your deal.
Challenges: when a deal runs into trouble · 14
13 steps · One fictional deal
Prepare materials with AI
AI uses fixed sample content to structure a teaser; advisor and seller review it before publication.
Review authority and publish
Review the authority scope; the seller consents to a specific version and its permitted facts.
Investor discovery
The buyer reads an anonymous teaser and expresses interest without confidential access.
Define the acquisition mandate
Clarify sector, budget and stake. Self-declaration differs from reviewed evidence.
Match and screen
Check hard constraints first and explain fit; do not predict returns or investment commitment.
Introductions and fee terms
Consent, source review and fee agreements are separate. An introduction does not create automatic fees.
NDA and document access
Both parties review the NDA; document owners then grant specific scope, purpose and duration.
Indicative offer and LOI
An indicative VND 80bn offer for 80% and an LOI frame deeper DD, not a final price or SPA.
Diligence and final price
Experts work in parallel. Findings are reviewed; the advisor recommends and the parties agree a final price.
SPA and closing conditions
Buyer-side IC, versioned SPA and closing conditions are separate. Sample signatures do not close the deal.
Close the transaction
Review purchase and transfer evidence, clear conditions and obtain each party's confirmation before closing.
Fees and aftercare
Fee due, collection, allocation and payouts are distinct; aftercare retains assigned owners.
Terms in plain language
NDA · Confidentiality agreement
A promise to protect shared information. Signing does not automatically open every document.
VDR · Virtual data room
A controlled document workspace. Access is limited to the person, documents and period granted.
LOI · Letter of intent
An initial basis for negotiation. Binding effect depends on each clause and applicable law.
DD · Due diligence
Checking financial, tax, legal and operating evidence before deciding.
SPA · Share purchase agreement
Sets price, payment, commitments and conditions. Signing alone does not complete transfer.
Closing · Completion
Confirmation that conditions, payment and transfer have been checked under the agreement.
04 / Frequently asked questions
Frequently asked questions
Do I need an account?
No. You can choose roles and practice with synthetic data.
Is this business actually for sale?
No. The company, figures and evidence are fictional teaching material.
Does listing reveal identity?
Public disclosure and confidential materials have distinct scope; not everything becomes public.
Does Premium unlock everything?
No. Payment does not replace consent, qualification, NDA or document grants.
Does NDA grant VDR access?
No. The owner must separately grant scope, purpose and duration.
How does a broker join?
Obtain introduction consent, submit evidence and await source review; fee terms are separate.
Does the first introduction earn a fee?
No. Duplicate claims need review; a receipt creates no automatic fee entitlement.
Do both counsel see everything?
No. Private advice and each side's engagement scope remain separate.
How does an advisor differ from DD experts?
Advisors support preparation, structure and negotiation; DD experts handle assigned specialist work.
Does every deal require Tax, Technical and ESG?
No. Scope follows deal risks; optional workstreams do not automatically block closing.
What do Investment Manager and IC do?
The manager prepares a memo; IC models the buyer's internal approval when applicable.
Can AI value, sign or close a deal?
No. Demo AI uses fixed samples; decisions require the proper actor and conditions.
Does signed SPA mean closed?
No. Conditions, payment/transfer evidence and party confirmations may still be pending.
Does closing mean fees are paid?
No. Purchase settlement, fee due, collection, allocation and payouts are separate.
Retainer or success fee?
It depends on scope and contract. The illustrative2% is not an actual service price.
Where do I start a real deal?
Use the final CTA. No demo decision or input is automatically copied to a real record.