New law to allow bigger shareholders to take over smaller shareholders

A new law is to entitle major shareholders to buy the shares of minority shareholders, if they vote against the majority at the annual general meeting. For the owners of family companies, a new form of partnerships will allow them to have the final say in decision making, while at the same time entitling them to issue shares as a-mixed joint-stock or as a limited company. The new law states that all civil-law partnerships, which is the major form of partnership in Poland, with turnover exceeding euro 400,000 will have to become either a general partnership or a private-equity company. (Rzeczpospolita, page B1) A.D.