LAWYER FOR STATUS CHANGES OF A COMPANY (ACQUISITION / TAKEOVER, MERGER, DIVISION)
A company sometimes might need to go under status changes. Status changes happen in the form of a takeover by another company, a merger with another company, or a division of two or more companies. Status changes can happen between companies from different legal forms. For example, a joint stock company can divide into two or more limited liability companies.
The procedure for the status change of a company is conducted before the Central Registry of the Republic of North Macedonia. Sometimes it requires the involvement of other experts. Also, this procedure is conveyed by an authorized registration agent – a lawyer.
Our law office is authorized for conveying all kinds of procedures before the Central Registry, including the procedure for registration of status changes of a company.
What is a takeover?
A takeover happens when a company is taking over one or more companies. The company transfers its assets fully to another company. As an exchange for the transfer, the acquiring company issues them shares and stocks.
What is a merger?
A merger implies a situation in which two or more companies merge through the establishment of a new company. They transfer to the newly founded company all of their assets, rights, and obligations. As an exchange for the transfer, the newly formed company issues them shares and stocks.
What is division?
A division happens when a company transfers all of its property to two or more companies.
If the company transfers all its assets, rights, and obligations, the company ceases without liquidation. If the company transfers only a part of its property, rights, and obligations, it continues to exist in legal circulation.
What happens to the partners’ and the shareholders’ shares?
The partners, i.e. the shareholders of the companies that join, merge, i.e. divide, acquire shares, i.e. stocks from the companies they take over, or from the newly formed companies. If necessary, they also receive a difference in money, which does not exceed 10% of the nominal amount of received shares, i.e. stocks.
If you need legal advice or help regarding the procedure for changing the status of your company, feel free to contact us!