Council adopts new rules on cross-border mobility of companies

The Directive includes strong safeguards to protect employees' rights and protect operations from misuse

Commissioner for Justice, Consumers and Gender Equality, Vera Jourova

The Council adopted on 18 November 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.

"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," Commissioner for Justice, Consumers and Gender Equality, Vera Jourova commented.

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