Investor Presentaiton
Regulations
With regard to mergers and acquisitions, the in
terests of minority shareholders are protected
as companies are obliged to ensure early notifi
cation and, for the majority of transactions, the
opinion of an independent expert to determine
whether the parameters of the transaction, in
particular the price, are fair and reasonable. In
the Czech Republic, mergers and acquisitions
are also regulated by special legal measures.
For example, for a transaction to come into ef-
fect in the banking and insurance sector, the
appropriate authorities (the CNB and the Min-
istry of Finance) must give their prior consent.
Mergers and acquisitions also fall within the
jurisdiction of the Office for the Protection of
Competition. Its permission is required if:
the aggregate net turnover of the
participants in a transaction in the Czech
Republic for the prior accounting period
exceeded CZK 1.5 billion and at least two of
the merging companies each recorded a net
turnover of more than CZK 250 million in
the Czech Republic for the same period; or
one or more of the participants in the
transaction had a net turnover in the
Czech Republic of at least CZK 1.5 billion
in the previous accounting period and
the worldwide net turnover recorded
by the other participant exceeded
CZK 1.5 billion for the same period.
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