Corporate Acquisitions and Mergers Editor-in-Chief: Peter F.C. Begg Supplement 3 of 2013 Corporate Acquisitions and Mergers represents the largest database of M&A know-how available anywhere in the world. Top firms from the largest 50 economies in the world have provided a concise legal analysis of the cultural, legal, regulatory, tax and accounting regimes affecting transactions in their home jurisdictions. Please find enclosed the following completely updated chapters: • Brazil Guilherme Leite & Fábio Contente Pinheiro Neto Advogados, São Paulo, Brazil • Israel Ehud Sol Herzog Fox & Neeman • Nigeria Ladi Taiwo & Alayo Ogunbiyi Abdulai, Taiwo & Co. • Norway Arne Didrik Kjørnæs, Susanne Munch Thore & Anders Myklebust Wikborg Rein & Co. • Spain Fernando de las Cuevas & Álvaro Mateo Gómez-Acebo & Pombo Abogados, S.L.P • Switzerland Hans-Jakob Diem & Jacques Iffland Lenz & Staehelin • United Kingdom Nilufer von Bismarck Slaughter and May 9888002863 Corporate Acquisitions and Mergers Volume 2 Editor-in-Chief: Peter F.C. Begg Supp 3/2013 CORPORATE ACQUISITIONS AND MERGERS Published by Kluwer Law International P.O. Box 316 2400 AH Alphen aan den Rijn The Netherlands Sold and distributed in North, Central and South America by Aspen Publishers, Inc. 7201 McKinney Circle Frederick MD 21704 USA In all other countries, sold and distributed by Kluwer Law International c/o Turpin Distribution Services Ltd. Stratton Business Park Pegasus Drive Biggleswade Bedfordshire SG18 8TQ United Kingdom DISCLAIMER: The material in this volume is in the nature of general comment only. It is not offered as advice on any particular matter and should not be taken as such. The editor and the contributing authors expressly disclaim all liability to any person with regard to any- thing done or omitted to be done, and with respect to the consequences of anything done or omitted to be done wholly or partly in reliance upon the whole or any part of the contents of this volume. No reader should act or refrain from acting on the basis of any matter con- tained in this volume without first obtaining professional advice regarding the particular facts and circumstances at issue. Any and all opinions expressed herein are those of the par- ticular author and are not necessarily those of the editor or publisher of this volume. © Kluwer Law International First published 1986 Basic Work ISBN 978-1-8533-3832-8 British Library Cataloguing in Publication Data Begg, P.F.C. Corporate acquisitions and mergers 1. Consolidation and merger of corporations I. Title 344.206-6626 KD 2127 Volume 2 All rights reserved. No part of this publication may be reproduced, stored in a retrieval sys- tem, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher. Permission to use this content must be obtained from the copyright owner. Please apply to: Permissions Department, Wolters Kluwer Legal, 76 Ninth Avenue, Seventh Floor, New York, NY 10011, United States of America. E-mail: [email protected]. Website: www.k- luwerlaw.com Printed in the Netherlands Supp 3/2013 General Table of Contents Volume 1 Preface ....................................................................... vii-xii Filing Instructions ........................................................... i-ii Checklist of Pages ............................................................ i-iv Argentina ................................................................... i-58 Australia .................................................................... i-34 Austria ...................................................................... i-32 Belgium ..................................................................... i-136 Brazil ....................................................................... i-22 Canada ..................................................................... i-90 Chile ........................................................................ i-16 China ....................................................................... i-38 Czech Republic ............................................................. i-124 Denmark ................................................................... i-34 European Union ........................................................... i-156 Finland ..................................................................... i-50 France ...................................................................... i-104 Germany .................................................................... i-140 Greece ...................................................................... i-40 Hong Kong ................................................................. i-32 Volume 2 Hungary .................................................................... i-84 India ........................................................................ i-32 Indonesia ................................................................... i-38 Iran ......................................................................... i-34 Ireland ...................................................................... i-32 Israel ........................................................................ i-46 Italy ......................................................................... i-28 Supp 3/2013 General Contents–v CORPORATE ACQUISITIONS AND MERGERS Japan ....................................................................... i-158 Lithuania ................................................................... i-38 Luxembourg ................................................................ i-38 Malaysia .................................................................... i-22 Mexico ...................................................................... i-24 The Netherlands ........................................................... i-46 New Zealand ............................................................... i-48 Nigeria ...................................................................... i-64 Norway ..................................................................... i-40 Pakistan ..................................................................... i-32 Peru ......................................................................... i-36 Philippines ................................................................. i-28 Poland ...................................................................... i-64 Portugal ..................................................................... i-20 Romania .................................................................... i-50 Russia ....................................................................... i-28 Volume 3 Republic of Serbia ......................................................... i-80 Singapore ................................................................... i-28 Slovak Republic ............................................................ i-108 South Africa ................................................................ i-52 Spain ........................................................................ i-24 Sweden ..................................................................... i-138 Switzerland ................................................................. i-124 Taiwan ...................................................................... i-78 Thailand .................................................................... i-28 Turkey ...................................................................... i-26 Ukraine ..................................................................... i-22 United Kingdom ........................................................... i-176 United States ............................................................... i-186 Vietnam ..................................................................... i-78 vi–General Contents Supp 3/2013 Norway Arne Didrik Kjørnæs Susanne Munch Thore Anders Myklebust Wikborg Rein & Co. Updated to October 2012 Supp 3/2013 Norway–i CORPORATE ACQUISITIONS AND MERGERS Corporate Acquisitions and Mergers: Norway © Kluwer Law International ii–Norway Supp 3/2013 CORPORATE ACQUISITIONS AND MERGERS Wikborg Rein & Co. Wikborg Rein is one of Norway’s leading law firms with about 250 lawyers in Oslo, Bergen, London, Singapore, Kobe, and Shanghai. The firm’s long-standing presence overseas distinguishes Wikborg Rein as the Norwegian law firm with most international experience and expertise. Wikborg Rein operates within the business and industry sectors banking and finance, shipping and offshore, natural resources, trade, industry and public sector, technology, media, and telecom, real estate, corporate finance, and litigation/dispute resolution. The combination of professional knowledge, industry experience, and a keen commercial understanding makes us uniquely qualified to develop new business possibilities and overcome challenges for our clients. Authors Arne Didrik Kjørnæs is a partner based in the firm’s Oslo office. For a number of years, Kjørnæs has advised Norwegian and non-Norwegian finance institutions, securities trading firms, banks and other companies on stock exchange introductions, share issues, mergers, acquisitions and sale in Norway as well as abroad. Kjørnæs has been a member of a number of committees on corporate, accounting, stock exchange and securities law and was retained by the Ministry of Justice in connection with the travaux préparatoires of the Companies Acts, and by the Ministry of Finance