A new law in France has changed how businesses must inform employees when selling or transferring majority shares. Previously, the Hamon law required companies to notify employees of such sales, giving them the chance to submit a purchase offer. This process had specific rules, such as a two-month notice period between informing employees and completing the sale, and a fine of up to 2% of the sale price for not following the rules. The new law shortens the notice period to one month and reduces the fine to 0.5% of the sale amount. The reform also changes which companies are required to follow these rules. Previously, the law applied to all small and medium-sized enterprises (SMEs), defined as companies with fewer than 250 employees. Now, the key factor is whether the company has a CSE (Comité Social et Économique), a body that represents employees and has consultative powers under French labor law. This shift means the law applies differently depending on whether a company has a CSE. Under the new law, three scenarios are possible. First, companies with fewer than 50 employees, which are not required to have a CSE, still follow the Hamon framework but with the updated, simpler procedures. Second, companies with 50 employees or more that already have a CSE in place no longer need to individually inform employees. Instead, only the CSE is informed and consulted, following standard legal procedures. Third, companies with 50 employees or more but without a CSE must again follow the Hamon framework, requiring individual employee notification one month before the sale. This last situation is likely to be rare, as companies of this size without employee representation are considered unusual, and sellers are expected to address this before considering a sale. The changes aim to simplify the process for businesses while still protecting employee rights. By focusing on the presence of a CSE, the law aligns the requirements more closely with the structure of employee representation in French companies. This adjustment may reduce administrative burdens for businesses while maintaining the core principle of allowing employees to participate in major company decisions.