Hogan Lovells and IE Business School launch a pioneering survey on Spanish M&A standards
28 January 2016
Over 40 leading companies and private equity houses explain how they go about doing M&A deals in Spain
Hogan Lovells and Spanish IE Business School have launched a pioneering survey on "Spanish M&A standards". A joint team of lawyers and researchers has processed the data provided by 43 leading corporates and private equity funds, with the aim of identifying the standards in private M&A contracts negotiated in Spain.
Unlike other countries, where research on the actual contents of M&A agreements has become increasingly widespread in recent years, there have not been studies carried out in Spain because Share Purchase Agreements (SPA) are not publicly available. For the first time, a survey based on information provided by some of the most active M & A players in the Spanish market is available.
José M. Balañá, corporate partner at Hogan Lovells and coordinator of the survey, said: "We have shed some light on practices in the Spanish M&A market. Even if every SPA is unique, the 200 plus deals covered by the survey point out to commonplace in many areas. An international investor negotiating a SPA in Spain may compare these market standards with what he finds back home. Unsurprisingly, the survey indicates differences with the UK or other Continental European countries are more subtle than those with the U.S.".