Parliament's budget committee approved proposed changes to the Commercial Code designed to protect minority shareholders.
Under the amendment, a majority owner in a traded company would have 60 days from taking its majority position to offer to buy out minority owners at the average price from the last six months.
The proposed changes must now pass through the full parliament before if becomes law.
The information in this newsletter is correct to the best of our knowledge and belief at the time of going to press. Specific advice should be sought, however, before investment and other decisions are made.
Please address any questions to:
Tax and legal advisory services:
Paul Antrobus/Jan Kaucky
Audit and accounting advisory services:
Magdalena Soueek/Ladislav Langr
Business advisory services:
John Weste
Arthur Andersen Prague, Tel: +42 2 2440 1300, or enter text search 'Arthur Andersen' and 'Business Monitor'.
Under the amendment, a majority owner in a traded company would have 60 days from taking its majority position to offer to buy out minority owners at the average price from the last six months.
The proposed changes must now pass through the full parliament before if becomes law.
The information in this newsletter is correct to the best of our knowledge and belief at the time of going to press. Specific advice should be sought, however, before investment and other decisions are made.
Please address any questions to:
Tax and legal advisory services:
Paul Antrobus/Jan Kaucky
Audit and accounting advisory services:
Magdalena Soueek/Ladislav Langr
Business advisory services:
John Weste
Arthur Andersen Prague, Tel: +42 2 2440 1300, or enter text search 'Arthur Andersen' and 'Business Monitor'.
