State loosens merger rules for com­pa­nies

Kathimerini English - - Focus - DIMITRA MANIFAVA

The state is lib­er­al­iz­ing its reg­u­la­tory frame­work on cor­po­rate merg­ers, al­low­ing for dif­fer­ent forms of com­pa­nies to merge, for all kinds of busi­nesses and not just joint­stock com­pa­nies to be split, and for per­sonal com­pa­nies to be­come joint-stock com­pa­nies through a clearer leg­isla­tive frame­work.

All this is in­cluded in the Econ­omy Min­istry bill “On Cor­po­rate Trans­for­ma­tions,” which was put up for pub­lic con­sul­ta­tion yes­ter­day, a process that will be com­pleted on Oc­to­ber 25. If the bill is voted into law in time, its clauses will start ap­ply­ing as of Jan­uary 1, 2019.

The idea be­hind the bill is to en­hance flex­i­bil­ity so as to fa­cil­i­tate the de­vel­op­ment of busi­ness en­ti­ties, es­pe­cially in cases where two or more smaller com­pa­nies want to merge into one, in­clud­ing co­op­er­a­tives.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.