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Ambos NBGO assists in successful share deal

Ambos NBGO assisted a privately held company in the approximately 20,000,000.00 EUR acquisition of the shares of a company engaged in the preparation and sale of spreadable salads, sauces, certain types of ready meals and the related packing business, and the following group restructuring.

 

Remuneration Committees Mandatory for Listed Companies

In the International M&A and Joint Ventures Committee Newsletter, Jens Van Hecke wrote an article on Remuneration Committees being mandatory for Belgian listed companies.

You can find the whole article here.

 

Employees also punished in case of non-declared work

As of 27 April 2011, besides employers, employees can also be punished with an administrative fine in case the employer does not comply with his so-called DIMONA-obligations (immediate declaration of employment).

An administrative fine between 500 and 2.000 EUR can be imposed upon the employee.

It concerns persons with a main activity as employee, self-employed person or public servant, who perform a side-activity which has not been declared by the employer in accordance with the DIMONA-obligations.

News letter employment law 21 April 2011

ECOCHEQUES - Modifications to CBA N° 98 regarding ecocheques (1)

As of 1 January 2011, when the employee leaves the company, the employer must inform him about the number of ecocheques he is entitled to. He should also indicate when these ecocheques will actually be handed over.

Modifications non-recurring result-related benefits

The social partners have applied some changes to CBA N° 90 regarding non-recurring result-related benefits for employees.

Regarding the procedure to adopt a bonus plan according to the system of non-recurring result-related benefits, as of 1 April 2011, the standard documents attached to CBA N° 90 must be used to draft the text of the company CBA as well as the text of the adhesion act.

To determine the benefits, some additional periods have been introduced which are regarded as periods of actual work performance:

Social Elections

The next social elections must be held between 7 and 20 May 2012.

Such elections must be organized every four years in order to establish or to renew a Works Council and/or a Committee for Prevention and Protection at Work.

In practice employers will have to start their procedure already as from 9 December 2011.

On Assignment acquires Valesta

Ambos NBGO has assisted On Assignment, Inc., a US based provider of professionals in the life sciences, healthcare and technology sectors, with the preparation, negotiation and completion of its acquisition of the Valesta group, a privately owned provider of specialized staffing in the area of clinical research within Western Europe.

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