In the event of a divestiture, the company to be divided shall transfer part of its property to one acquiring company or to several such companies. In the event of divestiture, the company to be divided shall continue to exist. In the event of a divestiture, all or part of the shareholders of the company being divided become members (shareholders) of the acquiring company or become the only member (shareholder) of the acquiring company, in accordance with the decision on the separation of the company. The reorganisation shall be carried out in two stages.

We point out that, according to the Commercial Law, members/shareholders have the right to participate and vote at the meeting remotely or to vote before the meeting. Read more in the Explanatory to Remote Participation in Meetings of Members, Shareholders and Members.

Documents to be submitted:

• an application by each company for the initiation of a reorganisation;
• the reorganisation contract or the draft contract (each company shall provide its copy);
• a receipt or a copy thereof, or a printout of an online bank payment, or information regarding the payment of the State fee. The national fee for a copy of each public contract or contract project shall be paid separately.

Time limit for the submission of documents in the Enterprise Register: 14 days from the drafting of the reorganisation agreement or the draft contract.