Document background
The Shares Sale and Purchase Agreement is a crucial document used in corporate acquisitions and divestitures under Austrian law. It is employed when transferring ownership of company shares, whether for a partial or complete acquisition of a business. The agreement must comply with Austrian corporate law requirements, particularly the Stock Corporation Act (AktG) for public companies or the Limited Liability Companies Act (GmbHG) for private limited companies. It typically includes detailed provisions on purchase price mechanisms, warranties, indemnities, closing conditions, and post-closing obligations. The document requires careful consideration of Austrian-specific legal requirements, including form requirements for share transfers, corporate approvals, and potential regulatory clearances. This agreement type is particularly important as it not only transfers ownership but also allocates risks between parties and provides the governance framework for the entire transaction.
