Section 1: The introduction of a period allowing employees to make an offer in the event of the sale of shares or securities giving access to the majority of the capital in companies which are not obliged to set up a works council.

In companies which are not obliged to set up a works council pursuant to article L. 2322-1 of the French Labour Code, when the owner of a shareholding representing more than 50% of the shares in a limited liability company or of shares or securities giving access to the majority of the capital of a joint stock company wishes to sell them, the employees are informed, and no later than…

At their request, employees may be assisted by a representative of the regional chamber of commerce and industry, the regional chamber of agriculture, the regional chamber of trades and crafts territorially competent in connection with the regional chambers of the social and solidarity economy and by any person designated by the employees, under conditions defined by decree.

Information may be provided to employees by any means, specified by regulation, likely to make the date of its receipt by the employees certain. When information is provided by registered letter with acknowledgement of receipt, the date of receipt of the information is the date of first presentation of the letter. Employees are bound by an obligation of discretion with regard to information received pursuant to this section, under the…

The Articles L. 23-10-1 to L. 23-10-3 are applicable to the sale of a shareholding in a company that is subject to special regulations requiring all or part of its capital to be held by one or more members or shareholders meeting certain conditions in terms of, in particular, professional qualifications, provided that:

The sale takes place within a maximum period of two years after the expiry of the period provided for in article L. 23-10-1. After this period, any sale is subject to articles L. 23-10-1 to L. 23-10-3.

This section shall not apply: 1° In the event of the sale of the shareholding to a spouse, ascendant or descendant; 2° To companies that are the subject of conciliation, safeguard, receivership or liquidation proceedings governed by Book VI; 3° If, during the twelve months preceding the sale, the sale has already been the subject of information pursuant to article 18 de la loi n° 2014-856 du 31 juillet 2014…