Cross-Border Corporate Mobility in the EU : Empirical Findings 2021

This report on cross-border mobility in the European Union focuses, in its sixth edition, on cross-border mergers, cross-border conversions, cross-border divisions as well as on SEs within the period 2001 to 2020. The factor with arguably the most impact on Corporate Mobility, compared to the previous report, is Covid-19. As can be seen in the Report, cross-border corporate mobility transactions overall have decreased in 2020 by 42,1% compared to 2019 and it will be interesting to see in future Reports when pre-pandemic levels of CbCM Transactions will be reached again. Similar to the fifth report, we are very happy to state, and as reflected in this Report, that we have nearly finalized the collection of cross-border conversions (CBCs) since 2001. That is the case because we could deepen the collection in respect to the national journals/registries of certain Member States such as France, Italy and Luxembourg. That means, by now we have been able to collect 2929 CBCs that took place between 2001 and 2020. Considering that during the same timeframe 6214 cross-border mergers took place, the number of CBCs remains lower. However, taking into account that for CBMs a harmonized legal framework exists since 2008 and that for CBCs such harmonized framework was introduced on 27 November 2019 with an obligation for transposition only in 2023, such numbers are arguably very impressive. At the same time, national legislation regulating CBCs and the case law of the European Court of Justice (CJEU) laid the basis for CBC-transactions