Fasken Martineau DuMoulin LLP (LexBlog France)
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Le défi des OPA en France : une procédure plus simple pour les initiateurs
La Cour d’appel de Paris a rendu une décision récente qui va faciliter la vie aux initiateurs d’offres publiques d’acquisition. Par une ordonnance en date du 10 avril 2014, le Premier Président de la Cour d’appel de Paris a en effet rejeté la demande des actionnaires minoritaires de la Société de la Tour Eiffel (« STE »),...
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Challenge of TOB in France: an easier path for initiators
A recent decision rendered by the French Court of Appeal gives way to a smoother process for initiators of takeover bids. An order dated April 10, 2014 has indeed dismissed the request of minority shareholders of Société de la Tour Eiffel (« STE »), a French company for which the insurance group SMABTP has launched a takeover...
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France: new employee information obligations for owners of very small, small and mid-sized companies
At the initiative of the French government, a draft bill related to the « social and solidary economy » was adopted after a first review by the Senate, and registered for review by the French parliament. Its Title II – Provisions facilitating the transmission of businesses to their employees– introduces new rights for the benefit of employees,...
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France – Launch of Enternext, NYSE Euronext’s subsidiary dedicated to SMEs / Lancement d’Enternext, filiale de NYSE Euronext dédiée aux PME.
NYSE Euronext announced on May 23, 2013 the opening of EnterNext, a new subsidiary dedicated to companies that have a capitalisation of under €1 billion, which already covers over 750 SMEs (Small and Medium Enterprises) listed on the regulated market of NYSE Euronext and on NYSE Alternext. Although it is not a new market segment,...
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France – Updated AMF Position 2007-19 – Extra-financial criteria for securities selection and application of these criteria to funds declaring themselves compliant with Islamic law.
The French Financial Markets Authority (AMF) issued earlier this year an updated position, stating under which conditions collective investment schemes (CIS(s)) may use criteria other than financial ones when choosing the securities in which they invest. In such cases, the AMF examines the applications of CISs which have filed for approval on the basis of...