SPAIN Law and Practice Contributed by: Ángel Pérez López, Luis Jiménez and Rodrigo del Saz, Uría Menéndez
10. Jurisdiction-Specific Features 10.1 Other Acquisition Finance Issues There are no other major issues of note in this jurisdiction.
Following UK practice, it is also standard in Spain to include “certain funds” clauses, pursu- ant to which the circumstances under which the lenders are entitled to refuse to fund the transac- tion are significantly restricted. The Spanish takeover regulations also regulate squeeze-out and sell-out mechanisms during the three months following the expiry of the takeover bid acceptance period.
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