{"id":253552,"date":"2026-05-04T13:36:25","date_gmt":"2026-05-04T11:36:25","guid":{"rendered":"https:\/\/highgate.sk\/how-the-value-of-a-company-is-determined-and-how-the-purchase-price-works-when-selling-a-company\/"},"modified":"2026-05-04T14:28:50","modified_gmt":"2026-05-04T12:28:50","slug":"how-the-value-of-a-company-is-determined-and-how-the-purchase-price-works-when-selling-a-company","status":"publish","type":"post","link":"https:\/\/highgate.sk\/en\/how-the-value-of-a-company-is-determined-and-how-the-purchase-price-works-when-selling-a-company\/","title":{"rendered":"How the value of a company is determined and how the purchase price works when selling a company"},"content":{"rendered":"\n<p><strong>Determining the value of a company and setting the purchase price are among the most sensitive and negotiated points of any M&amp;A transaction. It is at this stage that the seller&#8217;s expectations and the buyer&#8217;s market realities and investment logic most often collide. While the seller naturally perceives the value of the company through years of work, established relationships, know-how and future potential, the buyer looks at it in a much more pragmatic way &#8211; through the ability to generate cash flow and the level of risk it has to take in the acquisition.  <\/strong><\/p>\n\n<p>In practice, therefore, there is no one &#8220;right&#8221; company value. There is only the value that a particular buyer is willing to pay under particular conditions. The resulting purchase price is thus not just the result of a financial model, but a combination of economics, bargaining power, the competitive environment and the set-up of the transaction itself.  <\/p>\n\n<p>In this article, we will therefore look at three key areas that have a major impact on the outcome of the sale and the value of the purchase price that the seller collects after the transaction is completed. First, we will explain how companies are valued on the Slovak market and what really influences their value. We will then focus on the mechanisms of payment of the purchase price, which determine what it actually means and how the &#8220;price for the company&#8221; is determined in practice. Finally, we will take a closer look at the earn-out, i.e. the deferred and contingent portion of the purchase price mechanism, which is increasingly common in transactions today.   <\/p>\n\n<h2 class=\"wp-block-heading\">Valuations: how companies are valued and what impacts their value<\/h2>\n\n<p>When selling a company, one of the first questions an owner asks is what his business is actually worth. However, this question is much more complex than it may seem at first glance. Indeed, business valuation is not an exact discipline where there is one correct calculation. Rather, it is a combination of methodologies and market insight that varies depending on the particular buyer. In practice, we also come across a frequent case where owners have distorted or unrealistic expectations about the value of their company.    <\/p>\n\n<p>Such unrealistic expectations may make it difficult, if not impossible, to close the deal. We therefore always recommend that company owners have the company valued by an experienced independent valuer before entering into negotiations with potential suitors. Such a valuation can not only help to set the right expectation of the desired purchase price, but often also reveal a number of potential risks and weaknesses that unnecessarily reduce the value of the company before the sale. Naming them will allow the seller to correct these weaknesses and enter into sale negotiations with a higher value.   <\/p>\n\n<p>Several methodologies, metrics and approaches are used to value companies. If an owner approaches an expert with a request for valuation of the company, the expert is obliged to use one of the statutory methods (in Slovakia, they are regulated by Decree No. 492\/2004 Z. z. z. on the determination of the general value of property, as amended). There are five of them:  <\/p>\n\n<ul class=\"wp-block-list\">\n<li>Property  <\/li>\n\n\n\n<li>Business<\/li>\n\n\n\n<li>Combined<\/li>\n\n\n\n<li>Liquidation<\/li>\n\n\n\n<li>Comparative<\/li>\n<\/ul>\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<p>The expert thus chooses one of the above methods for the valuation of the company, the key to the choice being the purpose for which the valuation of the company is to be made by the expert opinion. In selecting the correct method, it is also important at what &#8220;life stage&#8221; the company is. At each stage, it is appropriate to use a different method &#8211; practically speaking, a startup with no or only a minimal history of generating sales and profits is valued differently from an established company that has been on the market for years and has a stable customer and revenue base.  <\/p>\n\n<p>In the Slovak market, <strong>valuation based on EBITDA multiples is most commonly used<\/strong>. This approach is based on the assumption that the value of a company is a multiple of its operating profit. At first glance, this is a simple model, but in reality it is the amount of the multiple used that is key. This can vary significantly depending on the industry, the size of the firm, its growth potential, the stability of earnings and the overall quality of management.   <\/p>\n\n<p>It is at this point that the gap between the seller&#8217;s expectations and the reality of the market often breaks down. Business owners tend to compare themselves to successful transactions in the media or to foreign benchmarks. However, the buyer&#8217;s evaluation also takes into account the specifics of the Slovak market, such as lower liquidity, smaller market size or higher perceived social, economic and resulting investment risk. As a result, multiples for smaller and medium-sized companies tend to be lower than in Western Europe.   <\/p>\n\n<p><strong>The quality and stability of a company&#8217;s cash flow has a major impact on its valuation<\/strong>. A company that has long-term stable revenues, repeatable or long-term contracts and predictable margins will be significantly more attractive to a buyer than a company with fluctuating results. Diversification is equally important. If a business is dependent on one or two key customers, this will be seen as a significant risk by the buyer.   <\/p>\n\n<p><strong>The dependence of the company on its founder is also a very strong factor<\/strong>. If the business is built on the owner&#8217;s personal relationships, know-how or operational management, the buyer will naturally expect his further involvement or reduce the valuation. Conversely, a business with professional management and clearly set processes is easier for a buyer to take over and therefore more valuable.  <\/p>\n\n<p>Not every company achieves a positive and stable EBITDA in order for this method to be applied. In addition, reliable data on multiples used for individual industries are often only available on a paid basis, and in our experience, those freely available may often not be accurate and applicable to the Slovak market. <\/p>\n\n<p>In addition to EBITDA multiples, discounting of future cash flows (DCF) is also used. This method works by projecting future earnings and discounting them to present value. Although this is theoretically a more accurate approach, in practice it is very sensitive to input assumptions. Even small changes in growth expectations or the discount rate can lead to fundamentally different results. Therefore, the DCF is often used more as a complement to multiplicative methods.    <\/p>\n\n<p>Comparable transactions are also an important reference point. If similar sales have taken place in a given sector, they provide an indicative benchmark. However, the availability of such data is limited in the Slovak market, which increases the importance of assessing each transaction individually.  <\/p>\n\n<p>From the seller&#8217;s perspective, it is crucial to realize that the value of the company can be actively influenced. <strong>Preparing for the sale, which ideally starts 12 to 24 months in advance,<\/strong> allows you to eliminate weaknesses, increase transparency and optimize the structure of the business. It is these steps that often have a greater impact on price than the negotiation itself. <\/p>\n\n<h2 class=\"wp-block-heading\">Purchase price payment mechanisms: locked-box and completion accounts<\/h2>\n\n<p>The determined value of the company then has a direct impact on the amount of the purchase price that the buyer or investor is willing to pay the seller for the stake in the company.<\/p>\n\n<p>Although there is talk of a &#8220;price for the company&#8221;, in reality it is more of a complex mechanism that determines how the price is calculated and when it is paid. It is the setting of this mechanism that has a major impact on the economic outcome of the transaction for the seller. There are two basic approaches to setting the purchase price in the market for the sale of (also Slovak) companies.  <\/p>\n\n<p>One of the most commonly used mechanisms for determining the purchase price in transaction documentation is the so-called <strong>locked-box<\/strong>. In this model, the economic value of the company is &#8220;locked&#8221; at a certain historical date that precedes the signing or closing of the transaction. Thus, the purchase price is not determined by the company&#8217;s status at the date of the transfer, but is based on accounting or other financial data prepared as of the agreed locked-box date. The buyer accepts in principle that the value of the company at that time corresponds to the agreed price, and the seller also undertakes that from the lock-box date until the closing there has been no unauthorised extraction of value from the company in its favour.   <\/p>\n\n<p>It is the prohibition of such a value drain that is at the heart of the locked-box mechanism. In practice, it is referred to as <strong>leakage<\/strong> and typically involves, for example, the payment of dividends, return of capital, forgiveness of claims against the seller or related parties, unusual management fees, transfers of assets below market value or other benefits to the seller. At the same time, the contract usually also defines the scope of &#8221; <strong>permitted leakage<\/strong>&#8220;, i.e., benefits that are expressly permitted, such as normal management pay, arm&#8217;s length transactions between related parties, or pre-identified payments approved by the buyer. A locked-box therefore does not mean that nothing happens in the company after the decisive date, but that the rules for dealing with its value are clearly set out in advance.   <\/p>\n\n<p>The advantage of locked-box is mainly its <strong>simplicity, predictability and transactional certainty<\/strong>. The seller knows exactly what price he will get, and the buyer has a relatively clear picture of the economics of the transaction when he signs. After closing, there is generally no need to prepare additional calculations of the purchase price or to have extensive discussions about how individual items are to be treated accountingly or economically. This is also why this model is very popular in auction or otherwise competitive processes where the seller prefers the greatest certainty of outcome and comparability of bids between bidders.   <\/p>\n\n<p>Locked-box, however, shifts some of the risk to the buyer. The latter must base its signing on historical financial data and rely on the fact that there have been no changes between the locked-box date and closing that would impair the economic value of the target company in a way that is not captured by the leakage mechanism. For this reason, the quality of due diligence, the accuracy of the financial statements, the extent of the seller&#8217;s warranties, and the setting of operating covenants for the period between signing and closing tend to be extremely important in lock-box transactions. Often a <strong>ticking fee<\/strong> is also negotiated, i.e. an economic benefit to the seller for the period between the locked-box date and closing to reflect the fact that the buyer is acquiring the company at a later date, although the price is calculated from the historical point in time.   <\/p>\n\n<p>At the other end stands the <strong>completion accounts<\/strong> mechanism. In this model, the final purchase price is not determined definitively at signing on the basis of historical figures, but only subsequently according to the company&#8217;s financial position at the date of closing. The parties typically agree on a methodology by which the price will be adjusted post-closing, most often based on the amount of <strong>net debt<\/strong>, <strong>working capital<\/strong> and sometimes cash or other specific balance sheet items. Simply put, the buyer pays a price corresponding to what it actually takes in the company on the date it acquires control.   <\/p>\n\n<p>This model better reflects the <strong>current economic condition of the company<\/strong> and tends to be fairer from the buyer&#8217;s perspective, especially where the value of the target company may change significantly between signing and closing. Completion accounts are therefore more common in transactions where the business is operationally dynamic, has seasonal fluctuations, significantly fluctuating working capital or where there is a longer period of time between signing and closing. This leaves the buyer not just reliant on a historical snapshot of the company, but with the ability to take into account the actual state of the company at the time of the takeover.  <\/p>\n\n<p>The disadvantage of completion accounts is higher <strong>complexity and contentiousness<\/strong>. After closing, closing accounts need to be prepared, often under time pressure and in situations where the buyer no longer controls the company, but the seller still has a strong economic interest in the outcome of the calculation. In practice, disputes then arise as to which accounting principles should be used to assess particular items, what belongs to net debt, how to calculate normalised working capital, whether certain provisions or allowances are appropriate in the ordinary course of business, and so on. The completion accounts mechanism therefore requires very precise contractual arrangements on calculation methodology, control rights, time limits for objections and how disputes are to be resolved, often including the involvement of an independent expert.   <\/p>\n\n<p>The difference between locked-box and completion accounts is thus not only a technical issue of price calculation, but also reflects the <strong>allocation of risks between the parties<\/strong>. Locked-box provides greater price certainty to the seller and reduces the scope for post-closing conflicts, but requires the buyer to have a higher degree of confidence in the historical data and in the contractual protection against leakage. Completion accounts, on the other hand, give the buyer greater protection relative to the company&#8217;s actual condition at closing, but at the cost of greater administrative complexity and greater risk of post-closing disputes.  <\/p>\n\n<p>As a result, the choice between the two mechanisms often depends on the specific type of transaction, the stability of the business, the length of time between signing and closing, the quality of the financial information and, most importantly, the <strong>bargaining power of the parties<\/strong>. The seller generally prefers a locked-box because it gives him more certainty of the outcome and limits the buyer&#8217;s ability to open the price after closing. A buyer, on the other hand, often tends to go for completion accounts when he wants to be sure that the price will match what he is actually acquiring. Both mechanisms can work in a well-prepared transaction, but it is critical that the model chosen is consistent with the economics of the particular deal and that it is worked out with sufficient precision in the contract.   <\/p>\n\n<p>The appropriateness of the different mechanisms depends in particular on the nature of the target company and the conduct of the transaction itself. <strong>Locked-box<\/strong> tends to be more appropriate where it is a stable business with relatively predictable cash flow, limited working capital fluctuations and good quality financial data ready at the locked-box date. It is also typically preferred in auction or otherwise competitive sales processes where the seller is pushing for price certainty, simplicity of documentation and minimization of post-closing discussions. Conversely, <strong>completion accounts<\/strong> are generally preferable for companies whose financial position can change significantly between signing and closing, for seasonal or operationally volatile businesses, for transactions with a longer period between signing and closing, or where the buyer does not want to bear the risk that historical numbers will not fully match the reality on the date of the takeover of the company. Simply put, the more stable the business and the more straightforward the transaction, the more naturally the lock-box works; the more dynamic the business and the more important the economic condition of the company is to closing, the more the completion accounts mechanism makes sense.   <\/p>\n\n<h2 class=\"wp-block-heading\">Earn-out: how it works and what impact it has on the purchase price<\/h2>\n\n<p>In the context of an unstable and highly volatile economic situation, which has a direct impact on the potential future profitability of the company, the mechanism of deferred (variable) part of the purchase price &#8211; the so-called earn-out &#8211; is applied in more and more transactions. This is a mechanism that allows the purchase price to be divided into a fixed and a variable part, with the variable part depending on the future performance of the company.  <\/p>\n\n<p>Typically, these are cases where the seller believes in strong company growth, new contracts, expansion, or other positive factors that have not yet been fully reflected in historical results, while the buyer does not want to pay a price based on optimistic expectations that may not materialize. Earn-out in such a case acts as a bridge between the two views: a portion of the purchase price is paid at closing as a fixed component, and another portion becomes payable only if the company achieves the pre-agreed results after the transaction. <\/p>\n\n<p>From the seller&#8217;s perspective, earn-out represents an opportunity to participate in the future success of the company after the sale and to defend a higher valuation than the buyer would accept based on historical numbers alone. It is particularly common in growth companies, technology firms, startups or businesses whose value is based significantly on expected future performance rather than just current assets or past earnings. An earn-out is particularly attractive to a seller if it believes that the company will continue to grow after the transaction and that the agreed targets are realistically achievable. On the other hand, it is not a &#8216;certain&#8217; part of the price, but a contingent consideration, the payment of which depends on post-closing developments and on the rules agreed in the contract.   <\/p>\n\n<p>From the buyer&#8217;s perspective, the earn-out is a mechanism that reduces the risk of overpaying the company. The buyer does not have to pay the full price for the expected future performance immediately upon taking over the company, but will only pay a portion of the value when those expectations are actually met. Earn-out is therefore often seen as a tool to spread the transaction risk between the parties. At the same time, the buyer can in this way create some protection against overly optimistic projections on which the seller bases his price idea. In certain cases, earn-outs can also serve an incentive function, especially if the seller or the original management remains with the company after the closing and continues to participate in its management or business development.    <\/p>\n\n<p>Although the earn-out looks like an elegant compromise at first glance, in practice it <strong>is one of the most sensitive and complex parts of the transaction documentation.<\/strong> The reason is simple: it is not just a question of whether a portion of the price will be paid, but mainly a question of under <strong>what conditions, on the basis of what indicators, over what period, how the results will be measured and who will be able to influence them<\/strong>. Each of these elements can have a major impact on whether or not the seller actually achieves the earn-out. <\/p>\n\n<p>The key point is setting the metrics to which the earn-out is tied. Most often these are metrics such as <strong>EBITDA, EBIT, revenue, gross profit, number of clients, amount of signed contracts<\/strong> or other business or operational KPIs. However, the choice of the indicator alone is far from enough. Its precise contractual definition is crucial. For EBITDA, for example, it is not enough to state that earn-out depends on its achievement; it is necessary to specify the accounting principles under which it will be calculated, what one-off or exceptional items will be excluded, how synergies, transaction costs, intercompany services, changes in depreciation policy or any changes in accounting methods after closure will be treated. For revenue, it is important to address whether only actual revenue collected will be counted or also accrued revenue, how cancellations, warranty credits, discounts or new business models introduced post-acquisition will be treated.     <\/p>\n\n<p>It is precisely the vagueness or overly general setting of metrics that tends to be one of the most frequent sources of disputes. Earn-outs that are only described in the contract at the level of a slogan can create more problems than solutions in practice. Therefore, the contract should contain not only the calculation formula itself, but also detailed rules for its application, how to prepare the documents, deadlines for their submission, the seller&#8217;s rights of control and a dispute resolution mechanism, for example through an independent expert.  <\/p>\n\n<p>The <strong>control of the company during the earn-out period<\/strong> is also an extremely sensitive topic. After closing, the management of the company usually passes to the buyer, but the value of the earn-out may depend on the business and management decisions that the buyer makes. This can put the seller in a situation where a portion of the price depends on results that he or she can no longer fully control. For example, the buyer may change business strategy, move clients to other group entities, increase centrally allocated costs, reduce investment in growth, change pricing, replace management or integrate the target company into the group in a way that, while it may be rational for the group, will reduce the likelihood of meeting its objectives from an earn-out perspective.   <\/p>\n\n<p>Therefore, in the case of earn-outs, it is often necessary to regulate in detail the so-called <strong>operating covenants<\/strong>, i.e. the rules of conduct of the buyer and the operation of the company during the earn-out period. In practice, these may include a commitment by the buyer to run the company in line with past practice, not to abuse its control in a way that would artificially reduce the earn-out, not to transfer business or costs away from the target company, to maintain appropriate operational autonomy, to consult with the seller on certain key decisions or to retain the original management in executive roles for a certain period of time. At the same time, however, the buyer generally rejects too strong restrictions because, after the purchase, it wants to be able to manage, integrate and optimise the business according to its own strategy. Here too, therefore, the earn-out reveals a fundamental tension between the economic interests of the parties.   <\/p>\n\n<p>It is also important to set up the <strong>earn-out structure itself<\/strong>. The contract should clearly specify over what period the results are tracked, whether it is a one-time test or multiple consecutive periods, whether the earn-out is all-or-nothing or paid incrementally based on the rate of achievement of goals, whether there is an upper limit on the additional payment, and whether the results of one period can be carried over to the next. In some cases, a linear model is used where each increase in performance results in a higher earn-out, while other times threshold levels are set that must be achieved at a minimum. Each of these solutions has a different incentive and risk effect.   <\/p>\n\n<p>The question of what happens in emergencies during the earn-out period also deserves special attention. For example, the contract should address situations where the company is sold to another investor, merged with another entity, the group is reorganised, the business model changes or exceptional external events materially affect the business. Without such an adjustment, it may be very difficult to determine later whether the failure to meet earn-out targets resulted from the actual performance of the company or from decisions and circumstances that were not foreseen by the original parties when entering into the contract.  <\/p>\n\n<p>In practice, therefore, the <strong>earn-out should be evaluated much more carefully than its nominal amount suggests<\/strong>. A higher total price quoted in the offer may not have the same economic value as a lower but guaranteed price paid at closing. In assessing the earn-out, consideration should be given not only to its maximum amount, but also to the likelihood of meeting the targets, the degree of control over their achievement, the length of the earn-out period, the seller&#8217;s protection mechanisms and the buyer&#8217;s credit risk in relation to future payment. Thus, in some cases, a lower fixed price may be economically more advantageous to the seller than an ambitious earn-out whose payment is uncertain or dependent on factors outside its control.   <\/p>\n\n<p>Simply put, earn-out can be a useful tool where it helps to bridge the parties&#8217; differing perceptions of the value of the firm and fairly allocate the risk of future developments. However, it only works well if it is based on clear, objectively measurable and least manipulable parameters, and if the contract also sensibly regulates the management of the company during the earn-out period. Without this, the earn-out can very quickly become not a bridge between the parties, but a source of intense post-closing disputes.  <\/p>\n\n<h2 class=\"wp-block-heading\">Our advice<\/h2>\n\n<p>Valuation of the company and setting the purchase price are at the core of any M&amp;A transaction. It&#8217;s not just about the numbers, but about how risks, expectations and future returns are shared between the seller and the buyer. Getting these mechanisms right can have a major impact on the final outcome of the transaction. Therefore, the most successful sales are not the result of chance, but of systematic preparation, realistic expectations and quality negotiation.   <\/p>\n\n<p>It is also at this stage that the value of quality tax and legal advice becomes most apparent. This is because a well-constructed transaction is not only based on a properly chosen valuation model, but also on its accurate translation into the SPA, a tax-efficient structure and the ability to anticipate the points at which the deal may break after signing or closing. At Highgate Law &amp; Tax, we therefore link the legal, tax and transactional perspectives in M&amp;A transactions so that the client sees not just the &#8220;headline price&#8221; but also its real economic content, the risks of the various mechanisms and their impact on the final sale proceeds. It is this combination that in practice is often decisive in determining whether a transaction is only formally closed or actually successful.   <\/p>\n\n<p><strong>We are Highgate Group, modern advisors for your law, tax and accounting under one roof.<\/strong><br\/>Sign up to our newsletter for more practical M&amp;A topics.<\/p>\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-container-core-buttons-is-layout-16018d1d wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/highgate.sk\/en\/contact\/\">Subscribe to the newsletter<\/a><\/div>\n<\/div>\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<p><strong>If you are interested in this topic, please do not hesitate to contact us:<\/strong><\/p>\n\n<ul class=\"wp-block-list\">\n<li>Tomas Demo, e-mail: <a href=\"mailto:tomas.demo@highgate.sk\">tomas.demo@highgate.sk<\/a><\/li>\n<\/ul>\n\n<div style=\"height:25px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n<p>Alternatively, you can address your specific questions in a consultation with our partner Tomas Demo. You can book a consultation here: <\/p>\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/highgate.sk\/en\/produkt\/comprehensive-consultation-with-tomas-demo\/\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/highgate.sk\/wp-content\/uploads\/2024\/06\/banner-konzultacia-komplexna-Tomas-1024x576.png\" alt=\"\" class=\"wp-image-4314\" srcset=\"https:\/\/highgate.sk\/wp-content\/uploads\/2024\/06\/banner-konzultacia-komplexna-Tomas-1024x576.png 1024w, https:\/\/highgate.sk\/wp-content\/uploads\/2024\/06\/banner-konzultacia-komplexna-Tomas-768x432.png 768w, https:\/\/highgate.sk\/wp-content\/uploads\/2024\/06\/banner-konzultacia-komplexna-Tomas-300x169.png 300w, https:\/\/highgate.sk\/wp-content\/uploads\/2024\/06\/banner-konzultacia-komplexna-Tomas-1536x864.png 1536w, https:\/\/highgate.sk\/wp-content\/uploads\/2024\/06\/banner-konzultacia-komplexna-Tomas-600x338.png 600w, https:\/\/highgate.sk\/wp-content\/uploads\/2024\/06\/banner-konzultacia-komplexna-Tomas.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Determining the value of a company and setting the purchase price are among the most sensitive and negotiated points of any M&amp;A transaction. It is at this stage that the seller&#8217;s expectations and the buyer&#8217;s market realities and investment logic most often collide. While the seller naturally perceives the value of the company through years [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":253550,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[134],"tags":[],"class_list":["post-253552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-interesting-topics"],"_links":{"self":[{"href":"https:\/\/highgate.sk\/en\/wp-json\/wp\/v2\/posts\/253552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/highgate.sk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/highgate.sk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/highgate.sk\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/highgate.sk\/en\/wp-json\/wp\/v2\/comments?post=253552"}],"version-history":[{"count":1,"href":"https:\/\/highgate.sk\/en\/wp-json\/wp\/v2\/posts\/253552\/revisions"}],"predecessor-version":[{"id":253553,"href":"https:\/\/highgate.sk\/en\/wp-json\/wp\/v2\/posts\/253552\/revisions\/253553"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/highgate.sk\/en\/wp-json\/wp\/v2\/media\/253550"}],"wp:attachment":[{"href":"https:\/\/highgate.sk\/en\/wp-json\/wp\/v2\/media?parent=253552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/highgate.sk\/en\/wp-json\/wp\/v2\/categories?post=253552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/highgate.sk\/en\/wp-json\/wp\/v2\/tags?post=253552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}