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EU: New directive adopted, cross-border mobility of companies

EU: New directive adopted, cross-border mobility

The European Council today adopted a directive on cross-border conversions, mergers and divisions.

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According to a release from the European Commission, the directive:

  • Provides “clear harmonised procedures” for companies to merge, divide or move within the single market
  • Includes “strong safeguards” to protect employees' rights, especially to be informed, consulted, and to participate in the boards of companies, as well as rights of minority shareholders and creditors during cross-border operations
  • Provides that cross-border operations cannot be misused for fraudulent or abusive purposes

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