Vulture funds get the green light to invest off the radar in Spain
The regulations change to declare significant holdings during a takeover bid. Read
A new regulation has changed the rules for declaring significant shareholdings during a takeover bid in Spain. As a result, shareholders of Azkoyen, a company subject to a takeover bid by Ohmnia Electronics, no longer have to disclose their stakes when they exceed 1% of the company's capital, but only when they reach 3%. This change, which came into effect on October 28, aims to reduce administrative burdens while maintaining sufficient transparency.
The move is expected to allow "event-driven" hedge funds, which seek to profit from takeover bids, to act more discreetly when taking positions in Spanish companies.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
