Share Purchase Agreements Bart Bellen

It is written from a practitioner`s point of view and focuses on the application of conventional concepts of civil and social law in the particular context of a share purchase agreement. The theoretical context of all legal concepts is discussed with due consideration for the practical relevance of the analysis. This book analyses the contracts to buy shares subject to Belgian law and used for business purchases. CONFIRMATIONs happy … v Glossary … INTRODUCTION xxi … 1ST PART 1. GENERAL CHARACTERISTICS OF TR ANSACTION CHAPTER 1. EQUITY TRANSACTIONS AND ASSET DEALS …

7 1. Equity trading vs. Asset Deals … 7 2. Legal purpose of the transaction … 8 3. Identity of the parties to the sale contract … 9 4. Transfer formalities … 9 references … 10 CHAPTER 2.

DIRECT SALE OR CONTROLLED AUCTION … 13 1. Direct sale … 13 2. Controlled auction … 14 references … 17TH PART 2. PR E-CONTR ACTUAL PHASE 1. CONFIDENTIALITY AGREEMENTS… 21 1.

Use of confidentiality agreements … 21 2. Content of confidentiality agreements … 21 3. Examples of clauses … 25 3.1. Definition of “confidential information” (general description) … 25 3.2. Confidentiality obligation (with respect to the agreement and the proposed transaction) … 26 3.3. Confidentiality (regarding confidential information) 26 3.4. Use of confidential information …

27 3.5. Restitution and destruction of confidential information … 27 3.6. Applications… 28 3.7. Association of non-exhortation … 28 3.8. Damage liquidated … 28 references … 29 CHAPTER 2. LETTERS OF INTENT …

31 1. Use of declarations of intent and other pre-contract documents … 31 2. Legal value of a Memorandum of Understanding … 32 3. Key elements of a Memorandum of Understanding … 35 4. Examples of clauses …

37 4.1. Stop… 37 4.2. Exclusive… 38 4.3. Non-binding nature of the declaration of intent (1) … 39 4.4. Non-binding nature of the declaration of intent (2) …

39 references … 40 CHAPTER 3. DUE DILIGENCE … 43 1. Disclosure obligations in the pre-contract phase – Subject and legal relevance of the buyer`s due diligence … 43 2. Organization of due diligence – data room … 52 3. Questions and answers … 54 4. Manufacturer Due Diligence … 55 5.

Considerations of competition law … 56 6. Examples of clauses … 57 6.1. Data Space Rules – Physical Data Space … 57 6.1.1. Access to the data room … 57 6.1.2. Documents from the data room … 58 6.1.3. Questions and answers … 58 6.2.

Data space rules – virtual data space … 58 6.2.1. Using the virtual data room… 58 6.2.2. Access to the data room … 59 6.2.3. Questions and answers … 59 6.2.4. Security… 59 6.2.5. Disclaimer… 60 references …

60 PART 3. SHAR E PURCHASE AGREMENT CHAPTER 1. IDENTIFICATION AND REPRESENTATION OF THE PARTIES … 67 1. Identification of parties … 67 2. Representation of the parties … 67 3. Consent of the spouse of a party …

69 4. Examples of clauses … 72 4.1. Identification and representation of the parties … 72 4.2. Power-of-Attorney … 73 4.3. Spouse`s consent … 74 References … 75 CHAPTER 2. Preamble… 77 1.

The subject and legal value of the preamble … 77 2. Example clause … 79 references … 80 CHAPTER 3. USE OF DEFINED TERMS, INTERPRETATION AND LANGUAGE … 81 1. Using defined terms … 81 2. Interpretation rules … 81 2.1.

General rules of interpretation … 81 2.2. Specific interpretation rules for sales and sales contracts … 84 2.3. Interpretive clauses contained in the share purchase agreement. . 85 3. Use of languages … 86 4. Examples of clauses … 87 4.1. Using defined terms …

87 4.2. Interpretation rules … 90 4.3. Use of languages … 91 References … 91 CHAPTER 4. OBJECT AND TRANSFER OF OWNERSHIP … 93 1. Legal purpose … 93 2.

Transfer of ownership … 94 Intersentia 3. Examples of clauses … 96 3.1. Selling and buying… 96 3.2. Transfer of ownership … 96 references … 97 CHAPTER 5. Purchase price… 99 1. Conditions of validity …

99 2. Some purchase price mechanisms …