Regulatory Alerts2023-01-01
Law on Takeover of Joint Stock Companies
The Parliament of Montenegro enacted this law to regulate the conditions, procedures, and rights involved in the takeover of joint stock companies. It mandates that any person acquiring more than 30% of voting shares must announce a public takeover bid, while defining key terms such as 'persons acting in concert' and establishing principles for equal shareholder treatment. The legislation outlines specific obligations for offerors, including funding requirements and notification timelines, and details exemptions from mandatory bids as well as restrictions on share transfers during the process.
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