Recent changes in French transfer tax treatment impact structuring of block trades
30 January 2012
Mayer Brown Legal Update
France has recently lifted a cap on registration duties (droits d’enregistrement) applicable to certain transfers of equity interests in corporations listed or headquartered in France, which may have a significant impact on the way block trades involving French companies are structured. Buyers and sellers of shares listed on the French securities markets, as well as their financial and legal advisors, will need to take into account the potential increased transaction costs of block trades.