Le operazioni di trasformazione e di fusione
In particolare, le fusioni con indebitamento e la nuova disciplina in materia di assistenza finanziaria
This paper analyses the regulation currently in force relating to both merger leveraged buy-out and financial assistance, i.e. the loans and guarantees given to a third party by a joint-stock company aimed at purchasing its own shares. Such operations, whose legitimacy was deeply uncertain in the past, are now expressly allowed, although they are subject to several conditions for the sake of shareholders’ and creditors’ protection.