A public limited company or a private limited company shall not hold shares or equity interests in another company if the latter holds a fraction of its capital that is over ten percent (10%).
Failing an agreement between companies concerned to regularize the situation, the company holding the lowest fraction the capital of the other shall transfer its shares or equity interests. If both companies hold equal fractions of each other’s capital, each company must reduce its interest in the other so that it does not exceed ten percent (10%) of the capital of the other.
Until their actual transfer, shares or equity interests to be transferred will be deprived of voting rights and right to receive dividends attached thereto.
Unofficial translation
Transcription: Spot-checked
In force from 05-05-2014
Source page 54
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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Section 177 of the Acte uniforme révisé relatif au droit des sociétés commerciales et du groupement d'intérêt économique/akn/ohada/act/loi/2014-01-30/auscgie-2014
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