Sat, Feb. 18, 2006

Merger Directive

CK - Washington.   Germany intends to enact legislation to comply with the E.U. merger directive 2005/56 which entered into force on December 15, 2005. Transborder mergers between German and other European companies will require a merger certificate which companies may obtain after preparing a joint merger plan, a merger report and a merger audit. Special rules govern the protection of minority shareholders and creditors.

The new statute will bring Germany in compliance with EU rules after the European Court of Justice ruling in the matter SEVIC Systems AG, ICG case no. C-411/03. The federal ministry of justice issued a press release and offers a PDF download of the bill.


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