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Derecho de acompañamiento

English translation: tag-along right

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12:43 Feb 22, 2006
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s)
Spanish term or phrase: Derecho de acompañamiento
"*Derecho de Acompañamiento*. En la transmisión de participaciones sociales de acuerdo con lo dispuesto en los párrafos anteriores, se aplicarán las siguientes reglas:

i) Si el potencial comprador pretendiese adquirir, directa o indirectamente, en un sólo acto o en actos sucesivos, un volumen de participaciones sociales que le permitan alcanzar una participación igual o superior al 50% del capital social, todos los socios de la Sociedad tendrán derecho a ofrecer sus participaciones sociales en las mismas condiciones, estando obligado el comprador a adquirir en bloque todas las que le sean ofrecidas. A tal efecto, cuando los socios reciban del Órgano de Administración la notificación indicada para el ejercicio del derecho de tanteo, en el plazo de 30 días establecido anteriormente podrán comunicar su deseo de adquirir las participaciones sociales en venta o su deseo de vender sus propias participaciones al comprador."

So, the situation is: if someone is about to acquire a majority stake in the company, the other shareholders have the right to sell their shares and get out of the company entirely.

'Right to accompany' certainly does not sound right. 'Right to opt out'? Or could I give it a different title do you think, something like 'Intention to Acquire a Majority Stake'?

Thanks

Thanks
Surtees
English translation:tag-along right
Explanation:
A contractual obligation used to protect a minority shareholder (usually in a venture capital deal). Basically, if a majority shareholder sells their stake, then the minority shareholder has the right to join the transaction and sell their minority stake in the company. Also referred to as "co-sale rights"
See also "drag-along right", which is the other way around
Selected response from:

John Rynne
Local time: 23:50
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4 KudoZ points were awarded for this answer

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Summary of answers provided
5Tag-Along Rights
Ana Brassara
5tag-along right
John Rynne


  

Answers


17 mins   confidence: Answerer confidence 5/5
tag-along right


Explanation:
A contractual obligation used to protect a minority shareholder (usually in a venture capital deal). Basically, if a majority shareholder sells their stake, then the minority shareholder has the right to join the transaction and sell their minority stake in the company. Also referred to as "co-sale rights"
See also "drag-along right", which is the other way around


    Reference: http://www.investopedia.com/terms/t/tagalongrights.asp
John Rynne
Local time: 23:50
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 189
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21 mins   confidence: Answerer confidence 5/5
Tag-Along Rights


Explanation:
Eran raros los supuestos en los que los nuevos inversores se reservaban privilegios que fuesen más allá de los clásicos derechos de veto en la Junta de Accionistas y en el Consejo, un derecho de adquisición preferente, o un derecho de acompañamiento en caso de transmisión de acciones ("tag along") que en determinados casos se convertía en la facultad de imponer la transmisión al resto de accionistas ("drag along").

http://www.togas.biz/togas45/perezllorca.htm


Tag-Along Rights
What does it Mean? A contractual obligation used to protect a minority shareholder (usually in a venture capital deal). Basically, if a majority shareholder sells their stake, then the minority shareholder has the right to join the transaction and sell their minority stake in the company. Also referred to as "co-sale rights".

Investopedia Says... Tag-alongs effectively oblige the majority shareholder to include the holdings of the minority holder in the negotiations in order to facilitate the possibility that a tag-along right is exercised.

http://www.investopedia.com/terms/t/tagalongrights.asp

Ana Brassara
Local time: 18:50
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 331
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