Insights

On 3 July 2024, the Dutch government published the Bill Clarifying Assessment of Employment Relations and Legal Presumption (Wet verduidelijking beoordeling arbeidsrelaties en rechtsvermoeden (VBAR)) as amended after an internet consultation. The bill introduces two additions to current legislation: (i) clarification of "relationship of authority", which is one of the defining elements of an employment agreement; and (ii) a legal presumption that an employment agreement exists, when working at an hourly rate of EUR 33 or less.

One year after it was first presented to parliament, the long-awaited Digital Markets, Competition and Consumers Act (DMCCA) received royal assent on 24 May 2024, marking a shift in digital, competition and consumer protection regulation in the UK. The DMCCA grants the Competition and Markets Authority (CMA) expanded powers to regulate the digital sector, scrutinise a broad range of mergers and acquisitions across digital and other markets, enforce consumer protection law, and strengthen competition oversight.

On 12 July 2024, the Supreme Court issued a ruling that is important to the employment law and M&A practice in the Netherlands. The case concerns the question of whether a "dynamic incorporation clause" in an employment agreement passes automatically to the new owner after a transfer of undertaking (TUPE) within the meaning of article 7:662 Dutch Civil Code. A dynamic incorporation clause is a clause that provides that not only the collective bargaining agreement in force at the start of the employment but also later versions of that collective agreement, will apply to the employment agreement. We previously reported on the case in this article.

De Brauw advises Astorg in connection with the announcement of the successful closing of the Normec Continuation Fund, capitalized by lead investors CVC Secondary Partners, Pantheon, Lexington Partners, and Eurazeo, alongside a diverse group of additional investors, including sovereign wealth funds, pension funds, asset managers, and family offices.

De Brauw advised Parcom on its acquisition of RECO, a company specializing in rental equipment for the construction, infrastructure, and industrial sectors.

De Brauw advised General Atlantic’s BeyondNetZero climate growth fund on its majority investment in GRESB, a leading global provider of sustainability standards and benchmarks for real assets.