On 12 October 2020, SWI CDBF issued guidance on circular on restructuring. CDBF updated on COPA Circular No 5 on exemptions from the compulsory offer for restructuring purposes, published on 2 September 2020 by Swiss Takeover Board (COPA). Overview Circular entered into force on 1 October 2020 with main objective of clarifying to stock market […]
On 9 October 2020, EBA issued compliance table regarding joint guidelines on prudential assessment of takeovers/acquisitions and increases of qualifying holdings in the financial sector.
On 6 October 2020, POR CMVM issued FAQ on Efanor Investment takeover bids. POR CMVM issued FAQ on Efanor takeover bids on Sonae Indústria and Sonae Capital. Overview To clarify to market and general public aspects of takeover bids (independent of each other) of Efanor Investimentos, SGPS SA (Efanor) on totality of shares representing. Share […]
On 18 September 2020, AST GVT issued two exposure drafts for stakeholder feedback. Foreign investment reform (protecting Australia’s national security) regulations 2020 and foreign acquisitions and takeovers fees imposition regulations 2020. The exposure draft on regulations includes remainder of regulations, namely on time limit of call in power, streamlining measures, integrity and technical amendments. The […]
On 16 September 2020, SFC took action re International Housewares Retail. Commenced disciplinary proceedings against Ngai Lai Ha, chairperson of International Housewares Retail Company Limited over breach of code on takeovers and mergers. SFC alleges that in a number of acquisitions of the company’s shares, Ngai acquired each time more than 2% voting rights from […]
On 8 September 2020, FRA amended executive regulations of capital market law. FRA issued Prime Minister’s decree No. 1760 of 2020, amending executive regulations of the capital market law No. 95 of 1992 re purchase offers for purpose of takeover/acquisition. Provided new acceptable forms of sukuk; flexibility for real estate investment funds. Removed certain concentration […]