Split-off, divestiture

According to Dutch corporate law divestiture is the split-off under universal title of the equity of a legal person.

The law distinguished a split-up from a split-off or divestiture in the Netherlands:

• Split-up is the legal act whereby the property, proprietary rights and interests & the liabilities of a legal person, which ceases to exist on the division, are acquired by universal transfer of title by two or more other legal persons in accordance with the description appended to the deed of division

• Partial division with a hive-off is the legal act whereby all or part of the property, rights and interests and the liabilities of a legal person, which does not cease to exist on the division, are acquired by general transfer of title in accordance with the description appended to the deed of division by one or more legal persons, at least one of which vests membership rights or share The portion of registered capital of a private or public limited company
  » Meer over share shares in its capital, in accordance with the provisions in this or the following Section, on the members or shareholders of the legal person subject to the division or at least one of which is formed or incorporated on the division by the legal person subject to the division.