{"id":5833,"date":"2026-07-14T09:23:28","date_gmt":"2026-07-14T07:23:28","guid":{"rendered":"https:\/\/graciacalbet.com\/?p=5833"},"modified":"2026-07-14T09:28:41","modified_gmt":"2026-07-14T07:28:41","slug":"how-to-sell-my-company","status":"publish","type":"post","link":"https:\/\/graciacalbet.com\/en\/blog\/how-to-sell-my-company\/","title":{"rendered":"A legal guide on how to sell my company in Spain in 2026"},"content":{"rendered":"<style>article[class*=\"post-\"] h1.text-center.mb-20{display:none!important;}<\/style>\n<article style=\"width:100%;max-width:1180px;box-sizing:border-box;margin:0 auto;padding:0 clamp(18px,4vw,30px) clamp(40px,8vw,72px);color:#2b2b2b;font-family:Raleway,Arial,sans-serif;font-size:clamp(16px,3.8vw,18px);line-height:1.72;overflow-wrap:anywhere;word-break:break-word;\">\n<header style=\"position:relative;margin:0 0 clamp(30px,6vw,48px);padding:clamp(38px,8vw,76px) 0 clamp(24px,5vw,42px);border-bottom:1px solid #e6e6e6;overflow:hidden;\">\n    <img decoding=\"async\" style=\"position:absolute;right:-8%;top:4%;width:min(460px,72vw);max-width:none;opacity:.045;z-index:0;\" src=\"https:\/\/graciacalbet.com\/images\/graciacalbet-logo-transparent.svg\" alt=\"\"><\/p>\n<div style=\"position:relative;z-index:1;\">\n<p style=\"margin:0 0 16px;color:#797979;font-size:13px;font-weight:800;letter-spacing:.16em;text-transform:uppercase;\">Corporate &amp; commercial<\/p>\n<h2 style=\"max-width:1020px;margin:0 0 22px;color:#000;font-family:PlayfairDisplay,Georgia,serif;font-size:clamp(34px,7vw,68px);line-height:1;font-weight:600;overflow-wrap:break-word;word-break:normal;\">A legal guide on how to sell my company in Spain in 2026<\/h2>\n<p style=\"max-width:880px;margin:0;color:#2b2b2b;font-size:clamp(18px,4.5vw,21px);line-height:1.62;\">Selling a company is not settled by signing a document: it means deciding <strong style=\"color:#000;font-weight:800;\">when to sell<\/strong>, commissioning a reliable <strong style=\"color:#000;font-weight:800;\">valuation<\/strong>, surviving the buyer&#8217;s <strong style=\"color:#000;font-weight:800;\">due diligence<\/strong> and negotiating clauses such as the <strong style=\"color:#000;font-weight:800;\">earn-out<\/strong> and the post-closing warranties.<\/p>\n<p style=\"margin:18px 0 0;color:#797979;font-size:14px;line-height:1.5;\">Last reviewed: July 2026 \u00b7 General guidance, not a substitute for case-specific analysis.<\/p>\n<\/p><\/div>\n<\/header>\n<figure style=\"margin:0 0 28px;padding:0;\">\n    <img decoding=\"async\" style=\"display:block;width:100%;max-height:clamp(300px,58vw,520px);object-fit:cover;background:#f3f3f3;\" src=\"https:\/\/graciacalbet.com\/images\/graciacalbet-office.jpg\" alt=\"Legal advice on the sale and purchase of a company in Spain\"><figcaption style=\"margin:10px 0 0;color:#797979;font-size:14px;line-height:1.45;\">Preparing the <strong style=\"color:#000;font-weight:800;\">documentation<\/strong> and the <strong style=\"color:#000;font-weight:800;\">valuation<\/strong> well before negotiating is what separates a well-executed sale from one that leaves the seller with less than the business is really worth.<\/figcaption><\/figure>\n<div style=\"display:grid;grid-template-columns:repeat(auto-fit,minmax(min(100%,220px),1fr));gap:12px;margin:0 0 28px;padding:16px;background:#f3f3f3;border:1px solid #e6e6e6;\">\n<p style=\"margin:0;color:#2b2b2b;font-size:15px;line-height:1.45;\"><strong style=\"color:#000;font-weight:800;\">Last reviewed:<\/strong> July 2026<\/p>\n<p style=\"margin:0;color:#2b2b2b;font-size:15px;line-height:1.45;\"><strong style=\"color:#000;font-weight:800;\">Area:<\/strong> Corporate, commercial &amp; M&amp;A<\/p>\n<p style=\"margin:0;color:#2b2b2b;font-size:15px;line-height:1.45;\"><strong style=\"color:#000;font-weight:800;\">Who this is for:<\/strong> business owners considering a sale<\/p>\n<\/p><\/div>\n<nav aria-label=\"Table of contents\" style=\"margin:0 0 clamp(30px,6vw,48px);padding:0;border-top:1px solid #000;border-bottom:1px solid #e6e6e6;\">\n<p style=\"margin:0;padding:16px 0 12px;color:#000;font-size:13px;font-weight:800;letter-spacing:.16em;text-transform:uppercase;\">In this article<\/p>\n<ol style=\"display:grid;grid-template-columns:repeat(auto-fit,minmax(min(100%,300px),1fr));gap:0;margin:0;padding:0;color:#2b2b2b;font-size:clamp(15px,3.8vw,16px);line-height:1.45;list-style:none;\">\n<li style=\"margin:0;padding:15px 18px 15px 0;border-top:1px solid #e6e6e6;\"><a style=\"color:#2b2b2b;font-weight:700;text-decoration:none;\" href=\"#when-to-sell\">01. When is the right time to sell<\/a><\/li>\n<li style=\"margin:0;padding:15px 18px 15px 0;border-top:1px solid #e6e6e6;\"><a style=\"color:#2b2b2b;font-weight:700;text-decoration:none;\" href=\"#valuing-company\">02. How a company is valued before selling it<\/a><\/li>\n<li style=\"margin:0;padding:15px 18px 15px 0;border-top:1px solid #e6e6e6;\"><a style=\"color:#2b2b2b;font-weight:700;text-decoration:none;\" href=\"#due-diligence\">03. What the buyer reviews in the due diligence<\/a><\/li>\n<li style=\"margin:0;padding:15px 18px 15px 0;border-top:1px solid #e6e6e6;\"><a style=\"color:#2b2b2b;font-weight:700;text-decoration:none;\" href=\"#earn-out\">04. What an earn-out is and when it suits<\/a><\/li>\n<li style=\"margin:0;padding:15px 18px 15px 0;border-top:1px solid #e6e6e6;\"><a style=\"color:#2b2b2b;font-weight:700;text-decoration:none;\" href=\"#common-mistakes\">05. Common mistakes when selling without advice<\/a><\/li>\n<li style=\"margin:0;padding:15px 18px 15px 0;border-top:1px solid #e6e6e6;\"><a style=\"color:#2b2b2b;font-weight:700;text-decoration:none;\" href=\"#ayuda-graciacalbet\">06. How GraciaCalbet can help you<\/a><\/li>\n<li style=\"margin:0;padding:15px 18px 15px 0;border-top:1px solid #e6e6e6;\"><a style=\"color:#2b2b2b;font-weight:700;text-decoration:none;\" href=\"#faqs\">07. Frequently Asked Questions (FAQs)<\/a><\/li>\n<\/ol>\n<\/nav>\n<p style=\"margin:0 0 16px;\">Selling a company is not a decision made in an afternoon, nor an operation executed by signing a document. It is a process that, well run, extends over months and involves successive decisions: when the right moment is, what the business is really worth, what the buyer will examine before paying, and how the seller is protected once the deal is closed. This guide walks through that process from start to finish, from the signal that prompts the idea of selling to the clauses that define what happens after signing.<\/p>\n<p style=\"margin:0 0 16px;\">Most owners who consider selling their company do so for the first time in their lives. That is no minor detail: the decisions taken in the first weeks \u2014how the documentation is prepared, which <strong style=\"color:#000;font-weight:800;\">valuation<\/strong> method is accepted, what information is handed over and in what order\u2014 shape the final outcome of the negotiation far more than the margin that can be scraped on price in the last few days. Understanding the whole process, and not only the moment of signing, is what separates a well-executed sale from one that leaves the seller with less money, more risk or less peace of mind than they should have.<\/p>\n<p style=\"margin:0 0 16px;\">This guide is written for anyone asking <strong style=\"color:#000;font-weight:800;\">how to sell my company<\/strong> in an orderly way: what steps mergers and acquisitions (M&amp;A) transactions follow from the seller&#8217;s perspective, what terms they will come across along the way, and what decisions are worth taking with advice before sitting down to negotiate. It does not replace the analysis of each specific case, but it gives the complete map of the terrain to be crossed.<\/p>\n<p style=\"margin:0 0 28px;\">Throughout the text, the concepts that recur in any sale process are explained \u2014<strong style=\"color:#000;font-weight:800;\">valuation<\/strong>, <strong style=\"color:#000;font-weight:800;\">due diligence<\/strong>, <strong style=\"color:#000;font-weight:800;\">EBITDA<\/strong>, <strong style=\"color:#000;font-weight:800;\">earn-out<\/strong>, <strong style=\"color:#000;font-weight:800;\">warranties<\/strong>\u2014 because understanding them before starting to negotiate is, in practice, the best defence a seller has against a buyer who handles them with ease.<\/p>\n<h2 id=\"when-to-sell\" style=\"margin:clamp(48px,9vw,68px) 0 20px;padding-top:20px;border-top:1px solid #000;color:#000;font-family:PlayfairDisplay,Georgia,serif;font-size:clamp(27px,5.8vw,42px);line-height:1.04;font-weight:600;\">When is the right time to sell<\/h2>\n<p style=\"margin:0 0 16px;\">There is no objectively perfect moment to sell a company, but there are signals that, combined, usually indicate that the time has come to consider it seriously.<\/p>\n<p style=\"margin:0 0 16px;\">The most common is the <strong style=\"color:#000;font-weight:800;\">founder&#8217;s retirement<\/strong> without a clear succession, whether family or managerial, ready to take over. When the business depends too heavily on a single person and that person wants to step back, keeping the decision on hold does not improve the seller&#8217;s position: on the contrary, the closer the exit approaches without a plan, the more unease it generates among employees, clients and suppliers, and that can erode the company&#8217;s value even before negotiations begin.<\/p>\n<p style=\"margin:0 0 16px;\">Another frequent signal is receiving an <strong style=\"color:#000;font-weight:800;\">unsolicited purchase offer<\/strong>. A competitor, a fund or an industrial group takes an interest in the business and makes a proposal. It is tempting to negotiate directly with that single interested party, but it is worth remembering that a spontaneous offer rarely reflects the maximum value that could be obtained: without comparing with other alternatives, without an orderly process and without advice, the seller negotiates at a disadvantage against someone who has spent months preparing the operation.<\/p>\n<p style=\"margin:0 0 16px;\">A sale is also considered when there are shareholders who want to leave the project and there is no internal buyer able to take on their stake, when the business needs liquidity the owner is not willing to risk in a new growth phase, or when the sector&#8217;s cycle shifts and it makes sense to divest before the company&#8217;s value suffers. In any of these scenarios, the first reasonable step is not to set a price, but to understand what the business is really worth in the current market.<\/p>\n<h2 id=\"valuing-company\" style=\"margin:clamp(48px,9vw,68px) 0 20px;padding-top:20px;border-top:1px solid #000;color:#000;font-family:PlayfairDisplay,Georgia,serif;font-size:clamp(27px,5.8vw,42px);line-height:1.04;font-weight:600;\">How a company is valued before selling it<\/h2>\n<p style=\"margin:0 0 16px;\"><strong style=\"color:#000;font-weight:800;\">Valuing my company before selling it<\/strong> is, by a wide margin, the step that most shapes the rest of the process. A poorly calculated asking price \u2014whether too high or too low\u2014 drives away serious buyers or leads the seller to accept less than the business is really worth.<\/p>\n<p style=\"margin:0 0 16px;\">The most common <strong style=\"color:#000;font-weight:800;\">valuation<\/strong> methods in sales of SMEs and mid-sized companies are three. The first is the <strong style=\"color:#000;font-weight:800;\">EBITDA<\/strong> multiple: the company&#8217;s gross operating result is taken and multiplied by a coefficient that varies with the sector, the size and market conditions at the time, comparing with similar deals already closed. The second is the discounted cash flow (DCF), which projects the business&#8217;s future flows and brings them to present value applying a discount rate that reflects the risk of the investment. The third is the adjusted net asset value, more common in businesses with substantial tangible assets and less growth potential, where value is built by adding assets and subtracting liabilities at market prices.<\/p>\n<div style=\"margin:24px 0;overflow-x:auto;\">\n<table style=\"width:100%;border-collapse:collapse;border-top:1px solid #000;border-bottom:1px solid #000;font-size:15px;line-height:1.55;\">\n<thead>\n<tr>\n<th style=\"padding:13px 12px;text-align:left;border-bottom:1px solid #000;color:#000;font-weight:800;\">Method<\/th>\n<th style=\"padding:13px 12px;text-align:left;border-bottom:1px solid #000;color:#000;font-weight:800;\">When it fits<\/th>\n<th style=\"padding:13px 12px;text-align:left;border-bottom:1px solid #000;color:#000;font-weight:800;\">Risk if used alone<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"padding:12px;border-bottom:1px solid #e6e6e6;\"><strong style=\"color:#000;font-weight:800;\">EBITDA multiple<\/strong><\/td>\n<td style=\"padding:12px;border-bottom:1px solid #e6e6e6;\">Business with a stable operating result and sector comparables.<\/td>\n<td style=\"padding:12px;border-bottom:1px solid #e6e6e6;\">Comparing with deals that are not really equivalent.<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:12px;border-bottom:1px solid #e6e6e6;\">Discounted cash flow (DCF)<\/td>\n<td style=\"padding:12px;border-bottom:1px solid #e6e6e6;\">Business with reasonably reliable growth projections.<\/td>\n<td style=\"padding:12px;border-bottom:1px solid #e6e6e6;\">Optimistic projections that inflate present value.<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:12px;\">Adjusted net assets<\/td>\n<td style=\"padding:12px;\">Businesses with substantial tangible assets and less growth.<\/td>\n<td style=\"padding:12px;\">Ignoring the value of goodwill and the client base.<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p style=\"margin:0 0 16px;\">No method works in isolation or gives an exact figure: in practice, the final price moves within a range that combines several approaches and is adjusted for qualitative factors that appear on no balance sheet. The client base and its degree of concentration, the business&#8217;s dependence on the founder, the existence of key long-term contracts, registered intellectual property or the strength of the management team are elements that an experienced buyer weighs as much as the accounting figures. That is why it is worth commissioning a professional valuation before setting any price expectation: it serves both to negotiate from an informed position and to detect, in good time, the aspects of the business worth strengthening before going to market.<\/p>\n<h2 id=\"due-diligence\" style=\"margin:clamp(48px,9vw,68px) 0 20px;padding-top:20px;border-top:1px solid #000;color:#000;font-family:PlayfairDisplay,Georgia,serif;font-size:clamp(27px,5.8vw,42px);line-height:1.04;font-weight:600;\">What the buyer reviews in the due diligence<\/h2>\n<p style=\"margin:0 0 16px;\">Once there is a preliminary agreement on price, the buyer \u2014usually through their own advisers\u2014 starts the <strong style=\"color:#000;font-weight:800;\">due diligence<\/strong>: the process of exhaustively reviewing the company to be bought, in order to confirm that the information received is correct and to identify risks that may affect the final price or the terms of the contract.<\/p>\n<p style=\"margin:0 0 16px;\">Due diligence usually covers several areas. On the legal side, it reviews current contracts with clients and suppliers, open or potential litigation, the licences and administrative authorisations needed to operate, and the company&#8217;s registry status, including the beneficial ownership of the shares or stakes under the <strong style=\"color:#000;font-weight:800;\">Spanish Companies Act<\/strong> (Ley de Sociedades de Capital). On the tax side, it examines the returns filed in recent years to detect tax contingencies that could materialise after the sale. On the employment side, it reviews the workforce, the applicable collective bargaining agreements and the risks arising from possible employee claims. On the financial side, it analyses annual accounts, existing debt and the quality of recurring income. And in certain sectors, a specific environmental or technical review is added.<\/p>\n<div style=\"margin:24px 0;padding:22px;border:1px solid #000;background:#fff;\">\n<p style=\"margin:0 0 12px;color:#000;font-weight:800;\">What the buyer reviews, area by area<\/p>\n<ul style=\"margin:0 0 0 20px;padding:0;\">\n<li style=\"margin:0 0 7px;\"><strong style=\"color:#000;font-weight:800;\">Legal:<\/strong> contracts, litigation, licences and registry ownership of the shares or stakes.<\/li>\n<li style=\"margin:0 0 7px;\"><strong style=\"color:#000;font-weight:800;\">Tax:<\/strong> returns from recent years and outstanding tax contingencies.<\/li>\n<li style=\"margin:0 0 7px;\"><strong style=\"color:#000;font-weight:800;\">Employment:<\/strong> workforce, collective bargaining agreements and employee claims.<\/li>\n<li style=\"margin:0 0 7px;\"><strong style=\"color:#000;font-weight:800;\">Financial:<\/strong> annual accounts, existing debt and quality of recurring income.<\/li>\n<li style=\"margin:0;\">Environmental or technical, specific to the company&#8217;s sector.<\/li>\n<\/ul><\/div>\n<p style=\"margin:0 0 16px;\">The result of the due diligence is rarely neutral: buyers commonly use the findings to request a price adjustment, demand broader <strong style=\"color:#000;font-weight:800;\">warranties<\/strong> in the contract, or propose deferred-payment mechanisms that reduce their risk. Preparing this stage well \u2014with the documentation ordered and reviewed in advance\u2014 is one of the most effective levers a seller has to reach signing without surprises or last-minute cuts. That is why it is often worth a seller-side review, almost a due diligence of one&#8217;s own, before the buyer runs theirs, as we explain in our <a style=\"color:#000;font-weight:700;text-decoration:underline;text-decoration-color:#797979;text-underline-offset:4px;\" href=\"https:\/\/graciacalbet.com\/en\/services\/specialty\/family-business\/due-diligences\/\" target=\"_blank\" rel=\"noopener\">due diligence service<\/a>.<\/p>\n<h2 id=\"earn-out\" style=\"margin:clamp(48px,9vw,68px) 0 20px;padding-top:20px;border-top:1px solid #000;color:#000;font-family:PlayfairDisplay,Georgia,serif;font-size:clamp(27px,5.8vw,42px);line-height:1.04;font-weight:600;\">What an earn-out is and when it suits<\/h2>\n<p style=\"margin:0 0 16px;\">When buyer and seller do not agree on the company&#8217;s valuation, the <strong style=\"color:#000;font-weight:800;\">earn-out<\/strong> is the most common mechanism to bring positions closer without either party having to give way entirely on price.<\/p>\n<p style=\"margin:0 0 16px;\">An earn-out consists of deferring part of the sale-price payment and conditioning it on the achievement of certain business targets after closing, usually measured in turnover or EBITDA over one or more years following the sale. The seller receives an immediate part on signing and the rest, wholly or partly, if the company reaches the agreed figures once it is under the control of the new owner.<\/p>\n<p style=\"margin:0 0 16px;\">This mechanism is especially suitable when the seller has more confidence in the business&#8217;s growth potential than the buyer, or when the latter wants to protect against the uncertainty of a valuation based on future projections. It is also common when the founder will remain involved in management during a transition period, since their direct involvement influences the achievement of the targets.<\/p>\n<div style=\"margin:24px 0;padding:20px 22px;background:#f3f3f3;border:1px solid #e6e6e6;border-left:2px solid #000;\">\n<p style=\"margin:0;color:#2b2b2b;\"><strong style=\"color:#000;font-weight:800;\">A note of caution:<\/strong> a poorly designed earn-out creates more conflicts than it resolves. It is essential to define precisely the indicators to be measured, the measurement period, who controls the running of the business during that time, and what happens if the figures are not met for reasons beyond the seller&#8217;s control. Without these clauses well defined, the earn-out can become a source of litigation instead of a negotiation solution.<\/p>\n<\/p><\/div>\n<h2 id=\"common-mistakes\" style=\"margin:clamp(48px,9vw,68px) 0 20px;padding-top:20px;border-top:1px solid #000;color:#000;font-family:PlayfairDisplay,Georgia,serif;font-size:clamp(27px,5.8vw,42px);line-height:1.04;font-weight:600;\">Common mistakes when selling without advice<\/h2>\n<p style=\"margin:0 0 16px;\">Many owners who sell their company without legal and financial support make the same mistakes, almost always through not knowing the process rather than through carelessness.<\/p>\n<h3 style=\"margin:30px 0 12px;color:#000;font-family:Raleway,Arial,sans-serif;font-size:clamp(18px,4.6vw,22px);line-height:1.25;font-weight:800;\">1. Not preparing the documentation in advance<\/h3>\n<p style=\"margin:0 0 16px;\">Scattered contracts, unclosed accounts, an unregularised employment situation or unresolved tax issues lengthen the due diligence, generate distrust in the buyer and usually translate into discounts on the initially agreed price.<\/p>\n<h3 style=\"margin:30px 0 12px;color:#000;font-family:Raleway,Arial,sans-serif;font-size:clamp(18px,4.6vw,22px);line-height:1.25;font-weight:800;\">2. Accepting a price without understanding the valuation method<\/h3>\n<p style=\"margin:0 0 16px;\">An apparently reasonable EBITDA multiple can conceal adjustments that reduce the calculation base, or be compared with deals that are not really equivalent to the business being sold.<\/p>\n<h3 style=\"margin:30px 0 12px;color:#000;font-family:Raleway,Arial,sans-serif;font-size:clamp(18px,4.6vw,22px);line-height:1.25;font-weight:800;\">3. Signing warranties poorly defined in time or amount<\/h3>\n<p style=\"margin:0 0 16px;\">They leave the seller exposed for years to buyer claims over contingencies they did not even know about. A related mistake is not planning the tax impact of the operation before closing it: the capital gain from the sale is taxed under the rules on <strong style=\"color:#000;font-weight:800;\">personal income tax on capital gains<\/strong>, and structuring the deal poorly can mean a far higher tax burden than necessary.<\/p>\n<h3 style=\"margin:30px 0 12px;color:#000;font-family:Raleway,Arial,sans-serif;font-size:clamp(18px,4.6vw,22px);line-height:1.25;font-weight:800;\">4. Mixing price and continuity conditions<\/h3>\n<p style=\"margin:0 0 16px;\">A less obvious but equally costly mistake is mixing the price negotiation with the negotiation of the seller&#8217;s continuity conditions in the business, when it is better to treat them as separate matters with their own logic.<\/p>\n<p style=\"margin:0 0 16px;\">All these mistakes share a single root: facing a complex operation without the right <strong style=\"color:#000;font-weight:800;\">advice<\/strong> at each of its stages, from the initial valuation to the drafting of the final contract.<\/p>\n<h2 id=\"ayuda-graciacalbet\" style=\"margin:clamp(48px,9vw,68px) 0 20px;padding-top:20px;border-top:1px solid #000;color:#000;font-family:PlayfairDisplay,Georgia,serif;font-size:clamp(27px,5.8vw,42px);line-height:1.04;font-weight:600;\">How GraciaCalbet can help you<\/h2>\n<p style=\"margin:0 0 16px;\">At GraciaCalbet we support business owners throughout the whole sale process, from the initial decision to signing and the subsequent registration in the <strong style=\"color:#000;font-weight:800;\">Commercial Registry<\/strong>. Our corporate and commercial team works both on preparing the operation \u2014reviewing the corporate, contractual and employment documentation before starting the process\u2014 and on negotiating the terms with the buyer and their advisers.<\/p>\n<p style=\"margin:0 0 16px;\">We coordinate the due diligence from the seller&#8217;s side, to anticipate the points the buyer will review and arrive prepared instead of reacting on the fly. We negotiate and draft the <strong style=\"color:#000;font-weight:800;\">warranty<\/strong> clauses, the <strong style=\"color:#000;font-weight:800;\">earn-out<\/strong> mechanisms where the operation requires them, and the rest of the terms of the sale and purchase agreement, always with the aim of protecting the seller&#8217;s position once the deal is closed.<\/p>\n<p style=\"margin:0 0 16px;\">For full support on the operation, from valuation to closing, we recommend getting to know our <a style=\"color:#000;font-weight:700;text-decoration:underline;text-decoration-color:#797979;text-underline-offset:4px;\" href=\"https:\/\/graciacalbet.com\/en\/services\/commercial-and-corporate\/purchase-and-sale-of-companies\/\" target=\"_blank\" rel=\"noopener\">purchase and sale of companies<\/a> service and our <a style=\"color:#000;font-weight:700;text-decoration:underline;text-decoration-color:#797979;text-underline-offset:4px;\" href=\"https:\/\/graciacalbet.com\/en\/services\/commercial-and-corporate\/ma\/\" target=\"_blank\" rel=\"noopener\">mergers and acquisitions<\/a> practice, specialised in M&amp;A transactions. You can get in touch with our team through our <a style=\"color:#000;font-weight:700;text-decoration:underline;text-decoration-color:#797979;text-underline-offset:4px;\" href=\"https:\/\/graciacalbet.com\/en\/contact\/\">contact form<\/a> to assess your specific case before taking any step in front of the buyer.<\/p>\n<section style=\"position:relative;margin:34px 0 0;padding:clamp(24px,5vw,34px);background:#000;color:#fff;overflow:hidden;\">\n    <img decoding=\"async\" style=\"position:absolute;right:-6%;bottom:-18%;width:min(520px,82vw);max-width:none;opacity:.12;\" src=\"https:\/\/graciacalbet.com\/images\/graciacalbet-logo-transparent-alt.svg\" alt=\"\"><\/p>\n<div style=\"position:relative;z-index:1;max-width:820px;\">\n<p style=\"margin:0 0 10px;color:#fff;font-size:13px;font-weight:800;letter-spacing:.14em;text-transform:uppercase;\">Purchase and sale of companies<\/p>\n<p style=\"margin:0 0 18px;color:#fff;font-family:PlayfairDisplay,Georgia,serif;font-size:clamp(25px,5vw,38px);line-height:1.08;\">Sell your company with the valuation and the warranties well resolved before you negotiate.<\/p>\n<div style=\"display:flex;flex-wrap:wrap;gap:10px;\">\n        <a style=\"display:inline-block;padding:13px 20px;background:#ffffff;color:#000;border:1px solid #ffffff;font-weight:800;line-height:1;text-decoration:none;\" href=\"https:\/\/graciacalbet.com\/en\/contact\/\">Request a consultation<\/a><br \/>\n        <a style=\"display:inline-block;padding:13px 20px;background:transparent;color:#fff;border:1px solid #ffffff;font-weight:800;line-height:1;text-decoration:none;\" href=\"https:\/\/graciacalbet.com\/en\/services\/commercial-and-corporate\/purchase-and-sale-of-companies\/\">View purchase and sale of companies<\/a>\n      <\/div>\n<\/p><\/div>\n<\/section>\n<h2 id=\"faqs\" style=\"margin:clamp(48px,9vw,68px) 0 20px;padding-top:20px;border-top:1px solid #000;color:#000;font-family:PlayfairDisplay,Georgia,serif;font-size:clamp(27px,5.8vw,42px);line-height:1.04;font-weight:600;\">Frequently Asked Questions (FAQs)<\/h2>\n<div style=\"border-top:1px solid #000;\">\n<details style=\"border-bottom:1px solid #e6e6e6;padding:0;\">\n<summary style=\"cursor:pointer;display:flex;align-items:center;justify-content:space-between;gap:16px;padding:18px 0;color:#000;font-weight:800;list-style:none;\">How long does it take to sell a company?<span style=\"display:inline-flex;align-items:center;justify-content:center;min-width:26px;height:26px;border:1px solid #000;font-weight:800;\">+<\/span><\/summary>\n<p style=\"margin:0 0 18px;\">The timescale varies with the size and complexity of the business, but a well-run sale process usually lasts between six and twelve months from the initial decision to signing. That time includes the valuation, the search for or negotiation with the buyer, the due diligence and the drafting of the contract. Processes that are rushed, without preparing the documentation in advance, tend to take longer, not less, because the issues that surface during the buyer&#8217;s review force the negotiation to stop while they are resolved.<\/p>\n<\/details>\n<details style=\"border-bottom:1px solid #e6e6e6;padding:0;\">\n<summary style=\"cursor:pointer;display:flex;align-items:center;justify-content:space-between;gap:16px;padding:18px 0;color:#000;font-weight:800;list-style:none;\">Do I need a professional valuation if I already have a purchase offer?<span style=\"display:inline-flex;align-items:center;justify-content:center;min-width:26px;height:26px;border:1px solid #000;font-weight:800;\">+<\/span><\/summary>\n<p style=\"margin:0 0 18px;\">Yes. An offer received, however attractive it seems, rarely matches the company&#8217;s real market value, because it reflects the interest and negotiating capacity of a single buyer, not an objective comparison. A professional valuation gives the seller an independent reference to negotiate that offer with full knowledge of the facts, whether to accept it, improve it or reject it.<\/p>\n<\/details>\n<details style=\"border-bottom:1px solid #e6e6e6;padding:0;\">\n<summary style=\"cursor:pointer;display:flex;align-items:center;justify-content:space-between;gap:16px;padding:18px 0;color:#000;font-weight:800;list-style:none;\">What is the difference between selling assets and selling shares?<span style=\"display:inline-flex;align-items:center;justify-content:center;min-width:26px;height:26px;border:1px solid #000;font-weight:800;\">+<\/span><\/summary>\n<p style=\"margin:0 0 18px;\">Selling shares or stakes transfers the company as a whole, with all its rights and obligations, whereas selling assets means transferring specific goods and contracts without transferring the legal entity. In a share sale, the buyer also assumes the company&#8217;s hidden contingencies, which is why due diligence and contractual warranties are so important.<\/p>\n<\/details>\n<details style=\"border-bottom:1px solid #e6e6e6;padding:0;\">\n<summary style=\"cursor:pointer;display:flex;align-items:center;justify-content:space-between;gap:16px;padding:18px 0;color:#000;font-weight:800;list-style:none;\">What happens if the due diligence finds problems in my company?<span style=\"display:inline-flex;align-items:center;justify-content:center;min-width:26px;height:26px;border:1px solid #000;font-weight:800;\">+<\/span><\/summary>\n<p style=\"margin:0 0 18px;\">It does not necessarily mean the deal collapses. Typically, the findings translate into a price adjustment, broader warranties in the buyer&#8217;s favour, or the introduction of an earn-out that shares the risk between both parties. That is why it is worth carrying out a prior internal review, almost a due diligence of one&#8217;s own, before the buyer does theirs.<\/p>\n<\/details>\n<details style=\"border-bottom:1px solid #e6e6e6;padding:0;\">\n<summary style=\"cursor:pointer;display:flex;align-items:center;justify-content:space-between;gap:16px;padding:18px 0;color:#000;font-weight:800;list-style:none;\">Is an earn-out always advisable?<span style=\"display:inline-flex;align-items:center;justify-content:center;min-width:26px;height:26px;border:1px solid #000;font-weight:800;\">+<\/span><\/summary>\n<p style=\"margin:0 0 18px;\">No. It is useful when there is a genuine difference of expectations about the future of the business between buyer and seller, but it introduces uncertainty over the final collection of the price and depends on management decisions that, after the sale, the seller no longer fully controls. It should be assessed case by case, defining the indicators and the measurement period in detail.<\/p>\n<\/details>\n<details style=\"border-bottom:1px solid #e6e6e6;padding:0;\">\n<summary style=\"cursor:pointer;display:flex;align-items:center;justify-content:space-between;gap:16px;padding:18px 0;color:#000;font-weight:800;list-style:none;\">How is the sale of my company taxed?<span style=\"display:inline-flex;align-items:center;justify-content:center;min-width:26px;height:26px;border:1px solid #000;font-weight:800;\">+<\/span><\/summary>\n<p style=\"margin:0 0 18px;\">The gain obtained from the sale of shares or stakes is taxed as a capital gain in the seller&#8217;s personal income tax, at rates that vary according to the size of the gain. The way the operation is structured \u2014single price, earn-out, deferred payment\u2014 can have a significant impact on the timing and amount of that taxation. Planning the tax aspect before closing the operation allows that burden to be legally optimised.<\/p>\n<\/details>\n<details style=\"border-bottom:1px solid #e6e6e6;padding:0;\">\n<summary style=\"cursor:pointer;display:flex;align-items:center;justify-content:space-between;gap:16px;padding:18px 0;color:#000;font-weight:800;list-style:none;\">What warranties should I give the buyer and for how long?<span style=\"display:inline-flex;align-items:center;justify-content:center;min-width:26px;height:26px;border:1px solid #000;font-weight:800;\">+<\/span><\/summary>\n<p style=\"margin:0 0 18px;\">Contracts commonly include seller warranties over the accuracy of the information provided and the company&#8217;s tax, employment and legal situation. These warranties should be limited in time, usually between one and several years depending on the type of contingency, and in amount, through maximum liability caps. Indefinite or uncapped warranties expose the seller to disproportionate claims long after the price has been collected.<\/p>\n<\/details>\n<details style=\"border-bottom:1px solid #e6e6e6;padding:0;\">\n<summary style=\"cursor:pointer;display:flex;align-items:center;justify-content:space-between;gap:16px;padding:18px 0;color:#000;font-weight:800;list-style:none;\">What happens to the employees when I sell my company?<span style=\"display:inline-flex;align-items:center;justify-content:center;min-width:26px;height:26px;border:1px solid #000;font-weight:800;\">+<\/span><\/summary>\n<p style=\"margin:0 0 18px;\">If the sale is structured as a transfer of shares or stakes, the employing company does not change and the employment contracts continue unaltered, without prejudice to any subsequent reorganisation the new owner may propose. If, instead, the operation is structured as a sale of assets with a business transfer, the rules on employment subrogation (TUPE-style transfer of undertakings) may apply.<\/p>\n<\/details><\/div>\n<div id=\"gc-sticky-cta\" aria-label=\"GraciaCalbet quick actions\" style=\"display:none;opacity:0;position:fixed;right:max(18px,env(safe-area-inset-right));bottom:max(18px,env(safe-area-inset-bottom));z-index:9999;width:min(326px,calc(100vw - 36px));box-sizing:border-box;background:#ffffff;border:1px solid #000;color:#2b2b2b;font-family:Raleway,Arial,sans-serif;transition:opacity .25s ease;\">\n    <button type=\"button\" aria-label=\"Close consultation\" onclick=\"this.parentNode.style.display='none';\" style=\"position:absolute;top:7px;right:7px;width:26px;height:26px;padding:0;background:#fff;color:#000;border:0;font-size:22px;line-height:24px;text-align:center;cursor:pointer;\">\u00d7<\/button><\/p>\n<div style=\"padding:18px;\">\n<div style=\"display:flex;gap:10px;align-items:center;margin:0 30px 10px 0;\">\n        <img decoding=\"async\" style=\"display:block;width:24px;height:24px;object-fit:contain;\" src=\"https:\/\/graciacalbet.com\/images\/graciacalbet-icon.svg\" alt=\"\"><\/p>\n<p style=\"margin:0;color:#797979;font-size:11px;font-weight:800;letter-spacing:.16em;text-transform:uppercase;\">Legal consultation<\/p>\n<\/p><\/div>\n<p style=\"margin:0 0 8px;color:#000;font-family:Raleway,Arial,sans-serif;font-size:17px;line-height:1.25;font-weight:800;\">Thinking about selling your company?<\/p>\n<p style=\"margin:0 0 14px;color:#2b2b2b;font-size:14px;line-height:1.48;\">We review the valuation, due diligence and warranties before you negotiate.<\/p>\n<p style=\"display:flex;flex-wrap:wrap;gap:10px;margin:0;\">\n        <a style=\"display:inline-block;padding:11px 14px;background:#000;color:#fff;border:1px solid #000;font-size:14px;font-weight:800;line-height:1;text-align:center;text-decoration:none;\" href=\"https:\/\/graciacalbet.com\/en\/contact\/\">Request a consultation<\/a><br \/>\n        <a style=\"display:inline-block;padding:11px 14px;background:#fff;color:#000;border:1px solid #000;font-size:14px;font-weight:800;line-height:1;text-align:center;text-decoration:none;\" href=\"https:\/\/graciacalbet.com\/en\/services\/commercial-and-corporate\/purchase-and-sale-of-companies\/\">View service<\/a>\n      <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p>  <script>\n    (function(){\n      var cta=document.getElementById('gc-sticky-cta');\n      if(!cta){return;}\n      function show(){cta.style.display='block';requestAnimationFrame(function(){cta.style.opacity='1';});}\n      if(window.matchMedia && window.matchMedia('(max-width: 767px)').matches){setTimeout(show,10000);}else{show();}\n    })();\n  <\/script><br \/>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>A practical guide to selling your company in Spain in 2026: when to do it, how to value it, what due diligence and earn-out mean, and mistakes to avoid.<\/p>\n","protected":false},"author":1,"featured_media":68,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"_links":{"self":[{"href":"https:\/\/graciacalbet.com\/en\/wp-json\/wp\/v2\/posts\/5833","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/graciacalbet.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/graciacalbet.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/graciacalbet.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/graciacalbet.com\/en\/wp-json\/wp\/v2\/comments?post=5833"}],"version-history":[{"count":1,"href":"https:\/\/graciacalbet.com\/en\/wp-json\/wp\/v2\/posts\/5833\/revisions"}],"predecessor-version":[{"id":5834,"href":"https:\/\/graciacalbet.com\/en\/wp-json\/wp\/v2\/posts\/5833\/revisions\/5834"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/graciacalbet.com\/en\/wp-json\/wp\/v2\/media\/68"}],"wp:attachment":[{"href":"https:\/\/graciacalbet.com\/en\/wp-json\/wp\/v2\/media?parent=5833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/graciacalbet.com\/en\/wp-json\/wp\/v2\/categories?post=5833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/graciacalbet.com\/en\/wp-json\/wp\/v2\/tags?post=5833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}