I am an employee of the subsidiary of a US company operating in EAST AFRICA. In our US parent company there was change of control through a much bigger corporation from Japan which now holds 86.5% of voting shares, though the
Benefit accrued to employee of the subsidiary
Answers
Anon,
Not knowing generic East African* law, I can't comment there.
However, unless your employment contract or stock plan (if any) have change of control language, there should be no impact what so ever. Typically, unless stated in a stock plan or other contract, the buyer inherits the contract, and there is no requirement that employees be informed.
*Note I doubt that all EA countries have the same rules, and further, I would venture to guess that the corporate structures would make it difficult to impose liabilities on the parent companies.
Cheers,
Keith