Where a Member State opts to require high standards in the preparation phase, the monitor or, where and to the extent that Member States so decide, the debtor-in-possession should be responsible for ensuring that the sale process is competitive, transparent and fair and meets market standards. In order to meet market standards, the sale process should be compatible with standard rules and practice on mergers and acquisitions in the Member State concerned, potentially interested parties should be invited to participate in the sale process, the same information should be disclosed to potential buyers, enabling them to exercise due diligence, and bids from interested parties should be obtained through a structured process.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
