Matter

Gaumont S.A. v Financial Markets Authority (Paris Court of Appeal 25/17456)

10 December 2025France
10 December 2025France
Order of the Paris Court of Appeal in case 25/17456 dated 10 December 2025
Paris Court of Appeal
Case no.
25/17456
Decision summary
The delegated First President's judge rejected Gaumont and the Ciné Par/family [G] concert's application to stay execution of AMF Decision No. 225C1744 of 14 October 2025, which required the concert to file a compliant public withdrawal offer for Gaumont shares within six months. The court also rejected the minority shareholders' Article 700 claim and ordered Gaumont and the Ciné Par/family [G] concert to bear the costs.
Supporting details
7 authorities · 25 participants
GAUMONT S.A.
Representative
Matthieu BOCCON GIBOD (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
SELARL LX PARIS-VERSAILLES-REIMS (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Florian BOUAZIZ (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Patrick DZIEWOLSKI (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
BREDIN PRAT (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S.
Representative
Matthieu BOCCON GIBOD (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
SELARL LX PARIS-VERSAILLES-REIMS (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Florian BOUAZIZ (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Patrick DZIEWOLSKI (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
BREDIN PRAT (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
[L] [G] [J]
Representative
Matthieu BOCCON GIBOD (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
SELARL LX PARIS-VERSAILLES-REIMS (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Florian BOUAZIZ (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Patrick DZIEWOLSKI (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
BREDIN PRAT (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
[F] [V] [G] [J]
Representative
Matthieu BOCCON GIBOD (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
SELARL LX PARIS-VERSAILLES-REIMS (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Florian BOUAZIZ (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Patrick DZIEWOLSKI (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
BREDIN PRAT (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
[M] [G] [J]
Representative
Matthieu BOCCON GIBOD (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
SELARL LX PARIS-VERSAILLES-REIMS (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Florian BOUAZIZ (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Patrick DZIEWOLSKI (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
BREDIN PRAT (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
[B] [G] [J]
Representative
Matthieu BOCCON GIBOD (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
SELARL LX PARIS-VERSAILLES-REIMS (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Florian BOUAZIZ (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
Patrick DZIEWOLSKI (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
Representative
BREDIN PRAT (For: GAUMONT S.A. · SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S. · [L] [G] [J] · [F] [V] [G] [J] · [M] [G] [J] · [B] [G] [J])
HMG FINANCE S.A.
Representative
Vincent RIBAUT (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
SCP GRV ASSOCIES (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
Julien VISCONTI (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
Quentin BERTRAND (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
SELARLU JULIEN VISCONTI AVOCAT (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
GAY-LUSSAC GESTION S.A.S.
Representative
Vincent RIBAUT (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
SCP GRV ASSOCIES (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
Julien VISCONTI (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
Quentin BERTRAND (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
SELARLU JULIEN VISCONTI AVOCAT (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
G.I.E. GREENSTOCK
Representative
Vincent RIBAUT (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
SCP GRV ASSOCIES (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
Julien VISCONTI (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
Quentin BERTRAND (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
SELARLU JULIEN VISCONTI AVOCAT (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
AXXION S.A.
Representative
Vincent RIBAUT (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
SCP GRV ASSOCIES (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
Julien VISCONTI (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
Quentin BERTRAND (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Representative
SELARLU JULIEN VISCONTI AVOCAT (For: HMG FINANCE S.A. · GAY-LUSSAC GESTION S.A.S. · G.I.E. GREENSTOCK · AXXION S.A.)
Financial Markets Authority
Representative
[N] [D] (For: Financial Markets Authority)
Paris Court of Appeal
Advocate General
Carla DEVEILLE-FONTINHA
Judge
Karima ZOUAOUI
Other
Court Reporter
Véronique COUVET
Authorities cited
7
- French Monetary and Financial Code, Articles L. 621-30 and R. 621-46
  statute
- AMF General Regulation, Article 236-1
  statute
- French Monetary and Financial Code, Article L. 433-4(I)(1)
  statute
- French Commercial Code, Article L. 233-10
  statute
- French Code of Civil Procedure, Articles 31, 122, 450 and 700
  statute
- SA BNP, Paris Court of Appeal, 10 April 2014, No. 14/05670
  case-law
- Electricité et Eaux de Madagascar, Paris Court of Appeal, 11 December 2024, No. 24/17553
  case-law
Direct judgment

GAUMONT S.A.

SOCIETE DE PARTICIPATIONS CINÉMATOGRAPHIQUES CINÉ PAR S.A.S.

[L] [G] [J]

[F] [V] [G] [J]

[M] [G] [J]

[B] [G] [J]

HMG FINANCE S.A.

GAY-LUSSAC GESTION S.A.S.

G.I.E. GREENSTOCK

AXXION S.A.

Financial Markets Authority

Paris Court of Appeal

Other