Newsalert Corporate Department - New amendments to the significant shareholdings regime for Italian listed companies aimed at avoiding “creeping acquisitions” (Article 120 of the Consolidated Financial Act)


On April 8, 2020, the Law Decree no. 23, providing for “Urgent measures concerning access to credit and tax compliance for businesses, special powers in strategic sectors, as well as interventions in the fields of health and work, extension of administrative and procedural terms”, has been published on the Official Journal of the Italian Republic. 

The Decree includes certain amendments to Article 120 of the Legislative Decree no. 58 of February 24, 1998 (the “Consolidated Financial Act” or “CFA”) aimed at further increasing the level of efficiency and transparency of the corporate control market and of the capital markets in order to protect investors.


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