Share Purchase Agreement: single company multiple sellers

Share Purchase Agreement for the purchase from multiple sellers of a company which is not part of a group of companies.

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When do I use this document?

  • for the sale and purchase of a company which is not part of a corporate group
  • for the sale of a company by multiple sellers
  • for a transaction where the acquisition is signed and completed simultaneously, with no closing conditions
  • when the consideration is paid in full in cash at completion

What are the key features?

  • full-form SPA with 23 clauses and 5 schedules over 35 pages
  • process for the sale and purchase of shares and completion deliverables
  • warranties from the sellers relating to the target company
  • limitations for the sellers from liability under the warranties
  • provision for indemnities for specific issues
  • restrictive covenants from the sellers
  • tax covenant for pre-completion tax liabilities

What other docs are available?

For alternative forms of SPA for a standalone company, see:

When do I use this document?

  • for an investment transaction
  • where the subject company will agree a period of exclusivity with the investor
  • for a longer form agreement with strong legal protections for the investor

What are the key features?

  • 13 clauses over 6 pages
  • definitions of Exclusivity Period, Proposed Transaction, Restricted Activity and Restricted Discussions
  • exclusivity undertakings from the company in favour of the proposed investor
  • rights and remedies for the proposed investor, including indemnity for breach and indemnity for costs

What other documents are available?

For a shorter form of exclusivity agreement for an investment transaction, see

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Updated by a lawyer on 27/06/2025

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