On 23 April 2021, ESP CNMC initiated disciplinary proceedings against Albia. ESP CNMC announced initiation of disciplinary proceedings against Albia Gestión de servicios SLU, subsidiary of Santa Lucía group over breach of takeover notification. Context On 15 April 2021 ESP CNMC launched infringement proceedings against Albia for not notifying purchase operation of funeral home Tanatoria…
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Croatia – HANFA Failure to Report Takeover Bid
On 15 April 2021, CRO HANFA made decisions on issuer enforcement action. CRO HANFA decided on order re a takeover bid, measures re market manipulation. Findings 1 Two individuals and PIK-ESOP failed to make a public announcement on a takeover bid when their combined shareholding exceeded 25% of the share capital of PIK d.d. Should…
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Russia – CB Equity Takeover Submission
On 10 December 2020, RUS CB issued guide for submitting document. RUS CB issued recommendations for legal entities, individuals submitting applications for acquisition of equity instruments of financial institutions and control over members. Recommendations Provide an overview of the most common mistakes and ways to eliminate them. RUS CB reminds that period for consideration of…
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Sweden – FI Fines for Late Takeover Notification
On 15 October 2020, the Swedish regulator, Finansinspektionen fined Albrektsund Förvaltningsaktiebolag for late takeover notification. Albrektsund Förvaltningsaktiebolag shall pay a penalty of SEK 200,000.
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Spain- CNMV SIX and BME Takeover Bid
On 17 June 2020, ESP CNMV issued rules for period of forced right of sale. ESP CNMV release on BME share sales orders during period of forced right of sale. Followed March 2020, ESP GVT authorized purchase of Spanish exchange. Takeover Bid Announcement On 16 June 2020, SIX Group AG (SIX) communicated, in line with…
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U.K. – Takeover Panel Moss Bros Takeover
On 26 May 2020, UK TO Panel reported that Brigadier has withdrawn its request for a review of the ruling, therefore the UK TO Panel's ruling of 19 May 2020 stands.
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