On December 18, it was reported that Russian authorities approved the main parameters of the reform regarding transactions with large blocks of shares in public companies RBCciting government and commission sources.
We are talking about the draft law of the Ministry of Economic Development on amendments to the federal laws “On Joint-Stock Companies” and “On the Securities Market”.
It is stated that most of the changes are aimed at protecting the rights of minority shareholders during takeovers in public joint stock companies. Adoption of the draft law should ensure the balance of interests of all participants in the procedure, as well as increase the level of protection of the rights of minority shareholders when purchasing large blocks of shares.
The Central Bank of Russia supports the need to reform the procedure for purchasing large amounts of shares and actively participates in working on the relevant draft law, the Central Bank press service reported.
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