Last update: 21 February 2024

Squeeze-out and sell-out

Summary

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    The Squeeze-Out/Sell-Out law establishes a legal framework for mandatory squeeze-out and sell-out transactions of certain categories of securities of companies whose registered office is in Luxembourg, where all or part of these securities are admitted to trading on a regulated market in one or several Member States, or were admitted on such a market but no longer are, or were offered to the public under the terms defined in this law.

    List

    In accordance with Articles 3(5) and 10(3) of the Law of 21 July 2012 on mandatory squeeze-out and sell-out of securities of companies currently admitted or previously admitted to trading on a regulated market or having been offered to the public, the CSSF publishes a list of companies for which information on holdings has been validly notified pursuant to Articles 3(1) and 10(1) of this law.

    The list is regularly updated and any company for which information on holdings has been validly notified shall be listed on it during a period of at least twelve months.

    List of companies for which information on holdings has been validly notified

    List of companies for which information has been validly notified to the CSSF in accordance with Articles 3(1) and 10(1) of the Law of 21 July 2012 on mandatory squeeze-out and sell-out of securities of companies currently admitted or previously admitted to trading on a regulated market or having been offered to the public (hereinafter the “Squeeze-Out Sell-Out Law”)

    Last update: February 2024

    The information marked in italic in the below table is mainly of historic interest.

    N° Issuer’s identity Basis for the notification : Date of receipt of the notification by the CSSF1 CSSF Annotations
    – the notifier is a majority shareholder as of 1 October 2012 (date upon which the Squeeze-Out Sell-Out Law entered into force) – the notifier has become a majority shareholder within the meaning of the Squeeze-Out Sell-Out Law after 1 October 2012 – the notifier is a majority shareholder who falls below one of the thresholds laid down in Article 1(1) of the Squeeze-Out Sell-Out Law – the notifier is a majority shareholder who acquires additional securities of the company concerned    
    48 Société Financière des Caoutchoucs SA (SOCFIN)  

    X

    		 02/02/2024 –
    47 Société Financière des Caoutchoucs SA (SOCFIN)  

    X

    		 29/01/2024 –
    46 Société Financière des Caoutchoucs SA (SOCFIN)  

    X

    		 18/01/2024 –
    45 Société Financière des Caoutchoucs SA (SOCFIN)  

    X

    		 11/01/2024 –
    44 Société Financière des Caoutchoucs SA (SOCFIN)  

    X

    		 15/12/2023 –
    43 Société Financière des Caoutchoucs SA (SOCFIN)  

    X

    		 02/11/2023 –
    42 Société Financière des Caoutchoucs SA (SOCFIN)  

    X

    		 30/10/2023 –
    41 Société Financière des Caoutchoucs SA (SOCFIN)    

    X

    		 24/10/2023 –
    40 Société Financière des Caoutchoucs SA (SOCFIN)    

    X

    		 17/10/2023 –
    39 SUSE SA   X  

    		16/10/2023 –
    38 Société Financière des Caoutchoucs SA (SOCFIN)      

    X

    		 11/10/2023 –
    37 Société Financière des Caoutchoucs SA (SOCFIN)      

    X

    		 05/10/2023 –
    36 Société Financière des Caoutchoucs SA (SOCFIN)      

    X

    		 29/09/2023 –
    35 Société Financière des Caoutchoucs SA (SOCFIN)  

    X

    		     30/05/2023 Notification received on 30 May 2023 and complemented by

    additional information requested pursuant to Article 3 (3) of the Squeeze-Out Sell-Out Law and received on 27 June 2023.

     
    34 Quilvest S.A.  

    X

    		     14/05/2018 Mandatory squeeze-out (cf. PR CSSF 18/37 of 2 November 2018)
    33 Colt Group S.A.      

    X

    		 26/10/2015 Cf. n°32
    32 Colt Group S.A.  

    X

    		     02/10/2015 Mandatory squeeze-out (cf. PR CSSF 16/04 of 25 January 2016)
    31 Banque Degroof Luxembourg S.A.

    X

    		       02/03/2015 The deadlines of Article 10 of the Squeeze-Out Sell-Out Law have expired.
    30 Metro International S.A.      

    X

    		 19/12/2014 Mandatory squeeze-out (cf. PR CSSF 16/08 of 11 February 2016).
    29 Banque Internationale à Luxembourg (« BIL »)      

    X

    		 10/09/2014 The deadlines of Article 10 of the Squeeze-Out Sell-Out Law have expired.
    28 Metro International S.A.      

    X

    		 27/02/2014 Cf. n°30
    27 Metro International S.A.      

    X

    		 10/01/2014 Cf. n°30
    26 Metro International S.A.      

    X

    		 11/10/2013 Cf. n°30
    25 Metro International S.A.      

    X

    		 13/09/2013 Cf. n°30
    24 Banque Internationale à Luxembourg (« BIL »)      

    X

    		 22/08/2013 The deadlines of Article 10 of the Squeeze-Out Sell-Out Law have expired.
    23 Metro International S.A.      

    X

    		 21/08/2013 Cf. n°30
    22 Metro International S.A.      

    X

    		 19/07/2013 Cf. n°30
    21 Banque Internationale à Luxembourg (« BIL »)      

    X

    		 04/07/2013 The deadlines of Article 10 of the Squeeze-Out Sell-Out Law have expired.
    20 Metro International S.A.      

    X

    		 17/06/2013 Cf. n°30
    19 Metro International S.A.      

    X

    		 13/05/2013 Cf. n°30
    18 Metro International S.A.      

    X

    		 22/04/2013 Cf. n°30
    17 Ventos S.A.

    X

    		       25/03/2013 The deadlines of Article 10 of the Squeeze-Out Sell-Out Law have expired.
    16 Metro International S.A.      

    X

    		 19/03/2013 Cf. n°30
    15 Metro International S.A.      

    X

    		 17/01/2013 Cf. n°30
    14 Utopia S.A.  

    X

    		     30/11/2012 Cf. n°13
    13 Utopia S.A.

    X

    		       30/11/2012 Mandatory squeeze-out (cf. PR CSSF 14/65 of 22 December 2014).
    12 Plantations des Terres Rouges S.A.

    X

    		       30/11/2012 Mandatory squeeze-out (cf. PR CSSF 13/22 of 28 May 2013).
    11 Europ Continents Holding

    X

    		       26/11/2012 The deadlines of Article 10 of the Squeeze-Out Sell-Out Law have expired.
    10 Europ Continents Holding

    X

    		       26/11/2012 The deadlines of Article 10 of the Squeeze-Out Sell-Out Law have expired.
    9 Metro International S.A.      

    X

    		 11/12/2012 Cf. n°30
    8 Europ Continents Holding

    X

    		       26/11/2012 The deadlines of Article 10 of the Squeeze-Out Sell-Out Law have expired.
    7 ArcelorMittal Luxembourg

    X

    		       19/11/2012 Mandatory squeeze-out (cf. PR CSSF 14/54 of 15 October 2014).
    6 Old Town

    X

    		       28/11/2012 Mandatory squeeze-out (cf. PR CSSF 13/28 of 2 July 2013).
    5 Metro International S.A.      

    X

    		 16/11/2012 Cf. n°30
    4 Metro International S.A.      

    X

    		 16/11/2012 Cf. n°30
    3 Metro International S.A.

    X

    		       16/11/2012 Cf. n°30
    2 KBL European Private Bankers S.A.

    X

    		       12/11/2012 The deadlines of Article 10 of the Squeeze-Out Sell-Out Law have expired.
    1 Banque Internationale à Luxembourg (« BIL »)  

    X

    		     10/10/2012 The deadlines of Article 10 of the Squeeze-Out Sell-Out Law have expired.

     

    This list of companies for which information has been validly notified contains, for at least twelve months, summary information from the notifications received by the CSSF. In accordance with Articles 3(4) and 10(2) of the Squeeze-Out Sell-Out Law, the company concerned (i.e. the issuer) is in charge of publishing all information included in the notification and, where required, communicating or sending it to the holders under the terms and arrangements provided for by those articles.

    1 It should be noted that the actual date of receipt is not the only date which could be relevant in the context of the Squeeze-Out Sell-Out Law.

    Notification of holdings by the majority shareholders

    The form for the notifcation of holdings by the majority shareholders (please refer to the section “Documentation”) shall be used for the notification of holdings by shareholders as provided for in Articles 3(1) and 10(1) of the Law of 21 July 2012 on mandatory squeeze-out and sell-out of securities of companies currently admitted or previously admitted to trading on a regulated market or having been offered to the public. The duly completed form shall be sent to the following email address: retrait.rachat@cssf.lu.

    Information requests and questions

    Information requests and questions by persons concerned relating to the Law of 21 July 2012 on mandatory squeeze-out and sell-out of securities of companies currently admitted or previously admitted to trading on a regulated market or having been offered to the public may be sent to the CSSF to the following email address: retrait.rachat@cssf.lu indicating the contact details of the persons concerned (full name, role, telephone number, etc.) and data on the securities concerned (ISIN code where available, identification of the company concerned, type and characteristics of the securities, etc.).

    We kindly invite you to first refer to the “Documentation” section below before submitting your question.

     

    Documentation

    Laws, regulations and directives

    • 21 July 2012

      Law of 21 July 2012

      on mandatory squeeze-out and sell-out of securities of companies currently admitted or previously admitted to trading on a regulated market or having been offered to the public and amending the Law of 23 December 1998 establishing a financial sector supervisory…

      PDF (90.92Kb)
      PDF (52.33Kb)

    Circulars

    • 1 October 2012 - Updated on 12 October 2020

      Circular CSSF 12/545

      Entry into force of the Law of 21 July 2012 on mandatory squeeze-out and sell-out of securities of companies currently admitted or previously admitted to trading on a regulated market or having been offered to the public

      PDF (106.53Kb)
      PDF (85.86Kb)

    Forms

    Contact

    Squeeze-out/Sell-out team