Re-sharpen the implementation of the cross-border conversions, mergers and divisions Directive

With its draft bill, the Federal Ministry of Justice is transposing the EU of the cross-border conversions, mergers and divisions Directive into national law.

We welcome the draft in general. It rightly makes it possible for shareholders' claims arising from an inappropriate conversion ratio, for example in the case of a merger of two companies, to be settled in shares instead of cash. However, the process of increasing the capital by which the shares are created needs to be adjusted.