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.

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.

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.

M&A transactions of listed companies may have additional complexities compared to those of private companies, as they are subject to securities market regulations. This article will explore the information that must be reported to the Securities Market Superintendency and to the market in general, as well as the guidelines that must be observed to comply with the applicable regulations.