France – AMF Shareholder Squeeze

France – AMF Shareholder Squeeze

On 27 June 2019, FR AMF issued decision of Jun. 25 on amendments to book II
of Euronext Paris operating rules re lowering of squeeze-out threshold to 90%.

Background

  • On 21 June 2019, FR GVT published order of 19 June 2019 approving changes.
  • Minister of Economy and Finance approved changes to AMF general regulations.
  • Changes the threshold of 95% of voting rights to 90% of capital or voting rights.
  • Sets out revised provisions for regulating minority shareholders squeeze-outs.
  • Makes provision regarding AMF checks on documents re public offers of tokens.