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7/23, 4:58 PM (Source: TeleTrader)
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Peugeot plans to conform its legal status to EU rules

French automaker Peugeot SA announced on Tuesday it plans to change its legal status to the so-called European Company (Societas Europaea, or SE) during the next shareholders meeting. This type of corporate status was designed in order to, among other things, facilitate easier transfers or mergers with other companies registered in the European Union member states.

"The project to transform Peugeot into a European Company would have no impact on the governance, on operations, organization or place of listing of [the firm], but would allow the Group to align its legal structure with its economic and social situation. [Peugeot's] transformation would result in a change in its legal form without reducing the current rights of shareholders or other stakeholders, and without impacting the location of the Company's head office or its centralized management in France," the company said in a press release.

Breaking the News / MA