going private transactions in going private transactions in france

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B) But is delisting sufficient? UUp until til 2009 2009, th the answer tto thi this question ti was no: Legal explanation: delisting did not automatically result in the declassification of an issuer from the category of publicly-held issuers. Three additional conditions to be met: 1) the issuer’s shares have not been or are no longer traded on a regulated market; 2) the shares, having been the subject of a public offering, are held by fewer than 100 people; 3) the shares have not been the subject of a public offering during the preceding year or been the subject of a buyout offer, followed by a squeeze-out. q 6
The 2009 legislative change: Removal of the status of publicly-held issuers by Ordinance no.2009-80 of 22 January 2009 relating to public offers. Reasons: Alignment g of French law with EU law; ; Competitiveness of French law. Result: replacement of the legal distinction between companies who have made a public offering and those who have not, with a distinction between companies listed on the stock t k exchange h and d all ll other th companies. i 7
Page 1 and 2: GOING PRIVATE TRANSACTIONS IN FRANC
Page 3 and 4: LEGAL DEFINITION
Page 5: “GOING PRIVATE”? A) ) A delisti
Page 9 and 10: CURRENT STATUS OF GOING CURRENT STA
Page 11 and 12: Increase in voluntary y delistings:
Page 13 and 14: PUBLIC TO PUBLIC TRANSACTIONS Overv
Page 15 and 16: PUBLIC TO PUBLIC TRANSACTIONS 42 Ov
Page 17 and 18: Objectives of the companies delisti
Page 19 and 20: Regulatory g y constraints resultin
Page 21 and 22: 3) ) Availability y of alternative
Page 23 and 24: Reactions of the financial markets:
Page 25 and 26: Restrictive conditions in France:
Page 27 and 28: 2) A prior buyout offer? Principle
Page 29 and 30: Voluntary delisting as the main foc
Page 31 and 32: Distinction and independence: Two
Page 33 and 34: 2) The new approach: squeeze-out wi
Page 35 and 36: The search for practical means to s
Page 37 and 38: PUBLIC TO PUBLIC TRANSACTIONS 16 Se
Page 39 and 40: Involvement of interlopers in 8 out
Page 41: B) ON NON NON-REGULATED REGU ATED M

going private transactions in going private transactions in france

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