Practical guide for M&A transactions: the pre-SPA process documents and their most relevant sections

Abstract

The purpose of this article is to enable the reader to understand the key steps prior to the Share Purchase Agreement (SPA) from a target company (seller) to the interested company (buyer). The documents required for this potential transfer have essential characteristics that must be respected throughout the procedure. The author establishes a breaking point in the non-binding and binding nature of the documents, as well as makes special mention of the faculties and obligations of the parties during the negotiations.