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EUROPEAN COURT OF JUSTICE: NO GENERAL PRINCIPLE RE PROTECTION OF MINORITY SHAREHOLDERS

Case C-101/08 – Audiolux SA and Others v Groupe Bruxelles Lambert SA (GBL) and Others, and Bertelsmann AG and Others

According to the European Court of Justice, in its decision of 15 October 2009, community law does not include any general principle of law under which minority shareholders are protected by an obligation on the dominant shareholder, when acquiring or exercising control of a company, to offer to buy their shares under the same conditions as those agreed when a shareholding conferring or strengthening the control of the dominant shareholder was acquired (click here for the full text).

Karel Frielink
Attorney (Lawyer) / Partner

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