European cross-border merger activity has risen in recent years despite challenging economic conditions. Multinational corporates in particular are looking to restructure their European entities in order to benefit from streamlined legal and administrative structures, improved cash management and regulatory advantages.
Harmonized legislation on the basis of the EU Cross-Border Merger Directive continues to facilitate mergers across EU Member States. However, remaining national variations in procedural requirements, also regarding the timeline of such transactions, confront companies with complex challenges.
The CMS Guide to Cross-Border Mergers sets out the key aspects of corporate, labour and tax law for cross-border mergers in 19 European countries. The guide is a user-friendly reference guide and includes a practical online planning tool for project teams, both covering:
- the types of company that can participate in a cross-border merger
- the format and content of key documents
- internal responsibilities, competent authorities and other external parties involved
- essential timing and publication requirements
- major tax consequences
- employee representation requirements.
First published in 2011 and now available as an e-guide on http://eguides.cmslegal.com, the 2nd edition provides fully updated and expanded content on 19 European countries. Each national overview includes a standard template and a simplified timeline of the transaction milestones required in each jurisdiction. Users can use the guide’s online planning tool to access and adapt the timelines to suit the needs of individual projects.
Peter Huber, Managing Partner and head of the international transactions team at CMS in Vienna, commented, “Cross-border mergers are complex transactions that require careful planning from the outset, particularly due to the still existing national regulations, which have not been harmonised and may differ greatly. The updated CMS guide builds on the experience we have gained in many years of advising on such transactions and especially highlights the practical aspects of handling a deal.”
Countries covered in the guide: Austria, Belgium, Bulgaria, Croatia, Czech Republic, France, Germany, Hungary, Italy, Luxembourg, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Switzerland, and United Kingdom.
Guide to Cross-Border Mergers and online transaction planner: http://eguides.cmslegal.com