Gaumont Faces Share Buyout Deadline Following AMF Ruling

Neuilly-sur-Seine, France – The Seydoux family, controlling shareholders of French film studio Gaumont, is nearing a critical deadline to launch a mandatory public tender offer for the remaining shares of the company. The Autorité des Marchés Financiers (AMF), France’s financial markets authority, confirmed a ruling on March 19, 2026, requiring Ciné Par and the Seydoux family to develop an offer to buy out shares not already held by them. The family has until April 14, 2026, to submit the necessary documentation to the AMF and initiate the formal tender process.

The Roots of the Dispute: Minority Shareholder Concerns

The legal challenge originated from concerns raised by minority shareholders – HMG Finance, Gay-Lussac Gestion, the GIE Greenstock, and Axxion – who argued that the limited trading volume of Gaumont shares hindered their ability to sell their holdings. They contended that the controlling stake held by Ciné Par and the Seydoux family created an unfavorable market situation.

AMF Intervention and Article 236-1

The AMF sided with the minority shareholders, invoking Article 236-1 of its general regulations. This article empowers the AMF to mandate a public tender offer when the actions of a controlling shareholder are deemed detrimental to minority shareholders. The ruling compels the Seydoux family to offer an exit opportunity to those wishing to sell their shares. [Source: World Today Journal]

Previous Legal Challenges

Gaumont, Ciné Par, and the Seydoux family previously filed an appeal with the Paris Court of Appeal against the AMF’s initial decision on October 10, 2025. However, the court confirmed the AMF’s ruling on March 19, 2026. [Source: Les Echos]

Initial Response and Ongoing Process

Following the AMF’s initial decision on October 10, 2025, Ciné Par and Gaumont announced they had been informed of the ruling and that it required a public buyout offer from Ciné Par and the Seydoux family. [Source: Gaumont Press Release] On October 24, 2025, Gaumont, Ciné Par, and the Seydoux family shareholders filed an appeal against the AMF’s decision and requested a suspension of its execution. [Source: Yahoo Finance]

The Seydoux family must now meet the April 14th deadline to submit documentation, moving the process forward and potentially resolving the concerns of minority shareholders.