Commission welcomes final adoption of new rules on cross-border mobility of companies

Today, the Council adopted the Directive on cross-border conversions, mergers and divisions that provides clear harmonised procedures for companies to merge, divide or move within the Single Market. The Directive 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. The new rules also ensure that cross-border operations cannot be misused for fraudulent or abusive purposes. Věra Jourová, Commissioner for Justice, Consumers and Gender Equality, said: “I welcome the final adoption of the new rules on cross-border mobility for companies. The new rules will give EU businesses more opportunities to move and grow by providing clear procedures for companies, which will cut costs and save time. At the same time, there will be strong safeguards to protect employees’ rights and to prevent abuse.” More information about EU rules in Company Law and Corporate Governance is available online.