Judgment of the Court (Fifth Chamber) of 13 May 2026.#KORFIN, s.r.o and SEMPIOLA INVEST LIMITED v SLOVNAFT, a.s.#Reference for a preliminary ruling – Company law – Directive 2004/25/EC – Takeover bid – Article 2(1)(a) – Squeeze-out of holders of securities – Bid made by a person controlling the offeree company – Making of the bid following the acquisition of such control – Lack of voluntary nature of the takeover bid.#Case C-225/25.

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Official record CELEX 62025CJ0225_SUM from European Union at Court of Justice of the European Union. Dated 13 May 2026. Status: decided.

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• Judgment of the Court (Fifth Chamber) of 13 May 2026.#KORFIN, s.r.o and SEMPIOLA INVEST LIMITED v SLOVNAFT, a.s.#Reference for a preliminary ruling – Company law – Directive 2004/25/EC – Takeover bid – Article 2(1)(a) – Squeeze-out of holders of securities – Bid made by a person controlling the offeree company – Making of the bid following the acquisition of such control – Lack of voluntary nature of the takeover bid.#Case C-225/25.

  judgment · EN · 13 May 2026

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• Acórdão do Tribunal de Justiça (Quinta Secção) de 13 de maio de 2026.#KORFIN, s.r.o e SEMPIOLA INVEST LIMITED contra SLOVNAFT, a.s.#Reenvio prejudicial — Direito das sociedades — Diretiva 2004/25/CE — Oferta pública de aquisição — Artigo 2.°, n.° 1, alínea a) — Aquisição potestativa dos titulares de valores mobiliários — Proposta apresentada por uma pessoa que detém o controlo da sociedade visada — Apresentação da proposta na sequência da aquisição desse controlo — Falta de caráter voluntário da oferta pública de aquisição.#Processo C-225/25.

  judgment · PT · 13 May 2026

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• Arrest van het Hof (Vijfde kamer) van 13 mei 2026.#KORFIN, s.r.o en SEMPIOLA INVEST LIMITED tegen SLOVNAFT, a.s.#Prejudiciële verwijzing – Vennootschapsrecht – Richtlijn 2004/25/EG – Openbaar overnamebod – Artikel 2, lid 1, onder a) – Uitstotingsrecht ten aanzien van houders van effecten – Bod dat is uitgebracht door een persoon met zeggenschap over de doelvennootschap – Uitbrenging van het bod na de verwerving van die zeggenschap – Niet-vrijwillig openbaar overnamebod.#Zaak C-225/25.

  judgment · NL · 13 May 2026

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• Sentencia del Tribunal de Justicia (Sala Quinta) de 13 de mayo de 2026.#KORFIN, s.r.o y SEMPIOLA INVEST LIMITED contra SLOVNAFT, a.s.#Procedimiento prejudicial — Derecho de sociedades — Directiva 2004/25/CE — Oferta pública de adquisición — Artículo 2, apartado 1, letra a) — Venta forzosa por los titulares de valores — Oferta presentada por una persona que ejerce el control de la sociedad afectada — Presentación de la oferta tras la adquisición de dicho control — Falta de carácter voluntario de la oferta pública de adquisición.#Asunto C-225/25.

  judgment · ES · 13 May 2026

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• Απόφαση του Δικαστηρίου (πέμπτο τμήμα) της 13ης Μαΐου 2026.#KORFIN, s.r.o και SEMPIOLA INVEST LIMITED κατά SLOVNAFT, a.s.#Προδικαστική παραπομπή – Δίκαιο των εταιριών – Οδηγία 2004/25/ΕΚ – Δημόσια προσφορά εξαγοράς – Άρθρο 2, παράγραφος 1, στοιχείο αʹ – Υποχρεωτική αποχώρηση των κατόχων τίτλων – Προσφορά από πρόσωπο που ελέγχει την υπό εξαγορά εταιρία – Υποβολή της προσφοράς μετά την απόκτηση του ελέγχου αυτού – Μη εθελούσια δημόσια προσφορά εξαγοράς.#Υπόθεση C-225/25.

  judgment · EL · 13 May 2026

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• Domstolens dom (Femte Afdeling) af 13. maj 2026.#KORFIN, s.r.o og SEMPIOLA INVEST LIMITED mod SLOVNAFT, a.s.#Præjudiciel forelæggelse – selskabsret – direktiv 2004/25/EF – overtagelsestilbud – artikel 2, stk. 1, litra a) – indløsningsret i forhold til indehaverne af kapitalandele – tilbud fra en person, der kontrollerer målselskabet – afgivelse af tilbuddet efter erhvervelsen af denne kontrol – overtagelsestilbuddets manglende frivillige karakter.#Sag C-225/25.

  judgment · DA · 13 May 2026

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• Sentenza della Corte (Quinta Sezione) del 13 maggio 2026.#KORFIN, s.r.o e SEMPIOLA INVEST LIMITED contro SLOVNAFT, a.s.#Rinvio pregiudiziale – Diritto delle società – Direttiva 2004/25/CE – Offerta pubblica di acquisto – Articolo 2, paragrafo 1, lettera a) – Diritto di acquisto dai possessori di titoli – Offerta presentata da una persona che detiene il controllo della società emittente – Presentazione dell’offerta a seguito dell’acquisizione di tale controllo – Mancanza di carattere volontario dell’offerta pubblica di acquisto.#Causa C-225/25.

  judgment · IT · 13 May 2026

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• Unionin tuomioistuimen tuomio (viides jaosto) 13.5.2026.#KORFIN, s.r.o ja SEMPIOLA INVEST LIMITED vastaan SLOVNAFT, a.s.#Ennakkoratkaisupyyntö – Yhtiöoikeus – Direktiivi 2004/25/EY – Julkinen ostotarjous – 2 artiklan 1 kohdan a alakohta – Oikeus arvopapereiden lunastamiseen niiden haltijoilta – Kohdeyhtiössä määräysvaltaa käyttävän henkilön tekemä tarjous – Tarjouksen tekeminen määräysvallan hankkimisen jälkeen – Julkinen ostotarjous ei ole vapaaehtoinen.#Asia C-225/25.

  judgment · FI · 13 May 2026

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• Arrêt de la Cour (cinquième chambre) du 13 mai 2026.#KORFIN, s.r.o et SEMPIOLA INVEST LIMITED contre SLOVNAFT, a.s.#Renvoi préjudiciel – Droit des sociétés – Directive 2004/25/CE – Offre publique d’acquisition – Article 2, paragraphe 1, sous a) – Retrait obligatoire des détenteurs de titres – Offre présentée par une personne détenant le contrôle de la société visée – Présentation de l’offre à la suite de l’acquisition de ce contrôle – Absence de caractère volontaire de l’offre publique d’acquisition.#Affaire C-225/25.

  judgment · FR · 13 May 2026

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