This is an operation by which a company:

• transfers its assets and liabilities to several other companies as a result of its dissolution without liquidation; or
• transfers, without dissolution, to one or more other companies, part or all of its assets and liabilities, in return for the allotment of shares from the beneficiary companies to the members of the split company. A balancing cash adjustment which can not exceed 10 % of the nominal value of the shares may be paid too.