On 8 July 2021, Nasdaq Nordic reported on discipline re takeover disclosure. Nasdaq Nordic (Stockholm) has fined Amasten Fastighets for breaching takeover rules. Overview Amasten Fastighets has been ordered to pay a SEK 1,000,000 fine regarding disclosure of a public takeover offer to shareholders in SSM Holding AB on 14 October 2020. Nasdaq Stockholm disciplinary…
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U.K. – Takeover Panel Publishes 13th Edition of Takeover Code
On 5 July 2021, UK TO Panel published the thirteenth edition of the Takeover Code. New version published on the Panel’s website; copies have been sent to subscribers.
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France – CMP Takeover of La Halle Stores
On 20 May 2021, FR CMP gave green light for stores takeover by Chaussea. FR CMP gave green light for the takeover of 128 La Halle brand stores by Chaussea. Clearance Subject to Conditions 17 June 2020, Chaussea notified FR CMP of plan to acquire 128 La Halle brand stores. The acquisition is being made…
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Portugal – CMVM Rasografica Takeover Bid
On 14 May 2021, POR CMVM issued derogation from duty to launch bid. POR CMVM announced it granted derogation from duty to launch public offer for the acquisition of Rasográfica of shares of Lisgráfica SA under art 187.1 Securities Code. Overview On 13 May 2021 Board decided this per provisions of art 189 number 2…
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Spain – CNMC Takeover Notification Breach
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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