When it comes to buying and selling shares, it`s important to have a solid and legally binding agreement in place. This is where a share purchase agreement (SPA) comes into play. In Greece, the SPA is called “Συμφωνητικό Αγοραπωλησίας Μετοχών” or “Agreement of Purchase and Sale of Shares”, commonly known as “Share Purchase Agreement Ellinika”.
A share purchase agreement is a legal document that outlines the terms and conditions under which shares in a company will be bought or sold. It typically includes details such as the price of the shares, the number of shares involved, representations and warranties made by the seller, and any conditions precedent or subsequent to the closing of the transaction.
In Greece, a share purchase agreement must comply with local laws and regulations. For example, the Greek Civil Code provides that the transfer of shares must be done in writing and that the ownership of the shares is transferred upon registration of the transfer on the company`s share register. This means that the SPA must be in writing and signed by both parties, and that the transfer of shares will not be effective until it is registered with the company.
When drafting a share purchase agreement in Greece, it`s important to consider any specific requirements or restrictions that may apply to the transaction. For example, if the company is a listed company, the transaction may be subject to additional regulations and disclosure requirements. Additionally, the SPA may need to include provisions related to the transfer of any necessary licenses or permits, or the assumption of any outstanding liabilities or obligations.
In conclusion, a share purchase agreement is an essential document when it comes to buying or selling shares in Greece. It provides a clear framework for the transaction, protects the rights and interests of both parties, and ensures compliance with local laws and regulations. If you are involved in a share purchase agreement in Greece, be sure to engage experienced legal counsel to help you navigate the process and draft a strong and effective agreement.
