This Directive (82/891/EEC) coordinates Member States' laws on divisions of public limited companies, covering divisions by acquisition and by formation of new companies. It requires written draft terms, publication at least one month before the deciding general meeting, disclosure of accounts and a detailed managerial report, and independent expert reports where prescribed. Shareholders may inspect documents, and minority shareholders can require purchase when allocations are disproportionate. Employee rights are protected under Directive 77/187/EEC.

Creditors must receive adequate safeguards and recipient companies may be jointly and severally liable, subject to possible limitation to allocated net assets. Judicial or administrative supervision is permitted; nullity is confined to court judgments and actions brought within six months of effectiveness. The Directive fixes the legal effects of transfers of assets and liabilities, provides for requisite formalities vis‑à‑vis third parties, and required transposition by Member States by 1 January 1986.