# Directive (EU) 2017/1132 of the European Parliament and of the Council of 14 June 2017 relating to certain aspects of company law (codification) (Text with EEA relevance), Article 139: Approval by the general meeting of each company involved in a division

Extent: E+W+S+N.I.

1. A division shall require at least the approval of a general meeting of each company involved in the division. Article 93 shall apply with regard to the majority required for such decisions, their scope and the need for separate votes.
2. Where shares in the recipient companies are allocated to the shareholders of the company being divided otherwise than in proportion to their rights in the capital of that company, Member States may provide that the minority shareholders of that company may exercise the right to have their shares purchased. In such case, they shall be entitled to receive consideration corresponding to the value of their shares. In the event of a dispute concerning such consideration, it shall be possible for the consideration to be determined by a court.

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Source: https://www.legislation.gov.uk/eudr/2017/1132/article/139 (the official version)
Page: https://openlegislation.uk/eu-directive-2017-1132/article-139
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.