Our Partner Mika Lehtimäki contributed to the World Bank’s Benchmarking Infrastructure Development 2020. At this time public and private collaboration is material for the society. Benchmarking Infrastructure Development 2020 assesses…
Many corporations are currently facing unforeseen challenges causing financial distress. Effective and well-orchestrated restructurings are needed to safeguard the continuity of business. However, conflicting stakeholder interests and complex inter-creditor issues may put obstacles in the way.
On 21 July 2019, the new Prospectus Regulation (EU) 2017/1129 (“Prospectus Regulation”) replacing the Prospectus Directive 2003//71/EY entered into force in full. The new articles allowing e.g. issue new shares to public without a prospectus when aggregate issue price was no more than MEUR 8 during a period of 12 months (compared to previous equivalent limit of MEUR 5) were already implemented effective as at 1 January 2019. The full application of the Prospectus Regulation means that EU prospectuses which are filed to the Finnish Financial Supervision Authority (“FIN-FSA”) now have to be drafted and approved under the new regulations.
We will continue our blog on SPAs and private M&A deals next, but in the meanwhile I take a step to the public M&A world and write a few words about exclusivity. This is often a hotly debated issue, but the main principle and aim of the clause are clear.