The purpose of this thesis was to help the assigner clarify the process related to the change of ownership in disinvestment. The assigner is a small company from Oulu. This company is planning to let go of the business. This thesis studied different options of ownership changes and the valuation of the company from the seller´s point of view. The main goal was to find a suitable way to carry out the sales process and value determination.

Almost 30 % of Finnish entrepreneurs are 55-74 years of age. The business of these entrepreneurs is mainly profitable, and the products meet the demands of the markets. One of the most critical phases is related to the changes of ownership and thousands of them are made every year. Entrepreneurship directly and indirectly affects employment, wellbeing and our whole national economy. That is why it is important to secure the continuity of viable companies by successful changes of ownership.

The basic information about the topic consisted mostly of books written by experts and internet sources from which the theory part of disinvestment and value determination was gathered. The most valuable source of the study was the assigner´s financial statements. The matters needed to be taken into account by the assigner during the ownership change and value determination were defined based on the theory part and the material gathered from the assigner. This thesis is a case study that was approached qualitatively, and supplemented quantitatively.

This thesis provided the assigner information to help the planning process of the disinvestment and the company found a suitable form for it. In addition the determination of value has been made, and the gathered material can be seen as the initial data in the planning of the disinvestment. The findings indicate that the disinvestment is a process of many phases, and it is to be planned carefully. Different trade practices have different effects that need to be clarified before trading. One of the most important considerations is the selling price of the company. This price is based on the value determination in which many different methods are used in order to achieve a more reliable picture of the value of company. The perspectives of the seller and the buyer have also their effects on the selling price of the company.