Share buy-back and cross-participation regimes in listed and non-listed Belgian companies

Arnaud Coibion and Alexandre de Selys from our Corporate practice have recently published a book on share buy-back and cross-participation regimes in listed and non-listed Belgian companies.

This publication analyses and describes in details the legal constraints under Belgian and European corporate and financial law applicable to the purchase of treasury shares, profit shares or certificates by Belgian limited liability companies ("société anonyme" / "naamloze vennootschap”) and to cross-participations ― the situation where two companies hold shares in each other. The publications also examines the application of the safe harbour regime and other constraints provided by the new European Market Abuse Regulation (MAR), which will enter into force this year.

With template wordings for authorisation to be granted by shareholders’ meetings for the purchase or sale of treasury shares and examples of reporting in the annual report of listed companies, this books aims at providing the necessary tools to assess and implement a share buy-back decision.