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La Cour d’appel de Paris a rendu une décision récente qui va faciliter la vie aux initiateurs d’offres publiques d’acquisition.

Par une ordonnance en date du 10 avril 2014, le Premier Président de la Cour d’appel de Paris a en effet rejeté la demande des actionnaires minoritaires de la Société de la Tour Eiffel (« 

At the initiative of the French government, a draft bill related to the « social and solidary economy » was adopted after a first review by the Senate, and registered for review by the French parliament. Its Title II – Provisions facilitating the transmission of businesses to their employees– introduces new rights for the

Sous l’impulsion du gouvernement français, un projet de loi relatif à l’économie sociale et solidaire a été adopté en première lecture par le Sénat et déposé pour étude à l’Assemblée nationale. Son Titre II – Dispositions facilitant la transmission d’entreprise à leurs salariés, instaure de nouveaux droits au bénéfice des salariés et, corrélativement, de

NYSE Euronext announced on May 23, 2013 the opening of EnterNext, a new subsidiary dedicated to companies that have a capitalisation of under €1 billion, which already covers over 750 SMEs (Small and Medium Enterprises) listed on the regulated market of NYSE Euronext and on NYSE Alternext.

Although it is not a new market segment, and may not be compared to the London Stock Exchange’s AIM (Alternative Investment Market) for instance, EnterNext has been designed to facilitate the financing requirements and development of European SMEs that operate regionally, nationally and internationally.


EnterNext has its own substantial resources and the full support of the NYSE Euronext group. Whilst working closely with regional economies, it has been designed to operate on a pan-European basis. Backed by its own teams and financial resources, EnterNext will build upon NYSE Euronext’s efficient market model. The new subsidiary promotes and facilitates all offers and services currently available to SMEs and its responsibilities amongst others include:

  • positioning the stock exchange as a source for alternative financing;
  • managing the day-to-day and grassroots relationships with issuers and listing candidates ;
  • promoting SMEs to investors as an attractive asset class;
  • developing a regional and national marketing strategy;
  • defining and promoting new services and financing options such as the Initial Bond  Offerings (IBO) first launched in the second half of 2012.


EnterNext has adopted an open governance structure, with a 15-member Board of Directors headed by a newly appointed Chairman and CEO. The remaining 14 seats will be divided equally between qualified external Directors and NYSE Euronext nominees. Candidates have been selected from the four countries in which the group operates in Europe, based on their experience and expertise with SMEs.

The appointed Chairman and CEO of Enternext is Eric Forest, current head of Oddo Corporate Finance’s Equity Capital Market business. He is also in charge of Corporate Broking activities at Oddo Corporate Finance.

France – Lancement d’Enternext, filiale de NYSE Euronext dédiée aux PME 
Continue Reading France – Launch of Enternext, NYSE Euronext’s subsidiary dedicated to SMEs / Lancement d’Enternext, filiale de NYSE Euronext dédiée aux PME.

The French Financial Markets Authority (AMF) issued earlier this year an updated position, stating under which conditions collective investment schemes (CIS(s)) may use criteria other than financial ones when choosing the securities in which they invest.

In such cases, the AMF examines the applications of CISs which have filed for approval

L’Autorité des marchés financiers française (AMF) a publié début 2013 une position mise à jour, précisant dans quelles conditions un OPCVM (organisme de placement collectif en valeurs mobilières, une forme de fonds d’investissement régulé) peut utiliser des critères autres que financiers pour sélectionner les actifs dans lesquels il investit.

L’AMF examine les OPCVM