SEs in Europe · SEEurope - Worker participation at board level in the European Company (SE) - A project of the European Trade Union Institute (ETUI-REHS) co-funded by the Hans Böckler

SEEurope - Worker participation at board level in the European Company (SE) - A project of the European Trade Union Institute (ETUI-REHS) co-funded by the Hans Böckler Foundation

SEs in Europe –

Established, in preparation, announced interest, sold shelfs, 1

transformed, liquidated and failed

Prepared by Sandra Schwimbersky and Melinda Kelemen

Last update 08-06-2007The paragraphs highlighted in yellow have been updated / added.

If you have any feedback, please write an e-mail in English to [email protected].

available online at http://www.worker-participation.eu/european_company

1 A shelf company is an „off the shelf“ company, one which has not been set up for a specific purpose but itis available and generally can be bought by anyone who wants it. Some specialist companies offer shelfcompanies to businesses so that they can set up in business very quickly.

Table of contents

I. Established SEs

(in alphabetical order)____________________________ ________________________4Afschrift SE_________________________________________________________5Alfred Berg SE______________________________________________________6Algest SE__________________________________________________________8Allianz SE__________________________________________________________9ARTEMIS Global Capital SE___________________________________________11Atrium Achte Europäische VV SE_______________________________________13Atrium Dritte Europäische VV SE_______________________________________14Atrium Vierte Europäische VV SE_______________________________________15Atrium Neunte Europäische VV SE______________________________________16Beiten Burkhardt EU-Beteiligungen SE__________________________________17Joh. A. Benckiser SE (JAB)___________________________________________18Beteiligungs- und Investment SE_______________________________________19BIBO ZWEITE Vermögensverwaltungsgesellschaft SE______________________20Bolagsstiftarna International SE________________________________________21BOLBU Beteiligungsgesellschaft SE_____________________________________22Carthago Value Invest SE_____________________________________________23Conrad Electronic SE________________________________________________24Conrad Holding SE__________________________________________________26Convergence CT SE_________________________________________________27Culture Commune SE________________________________________________28DIAG Human SE____________________________________________________29Donata Holding SE__________________________________________________30EBD Erste Verwaltungsgesellschaft SE__________________________________31EBD European Business Development SE_______________________________32EBD Vierte Verwaltungsgesellschaft SE__________________________________32EBD Zweite Verwaltungsgesellschaft SE_________________________________34Elcoteq SE________________________________________________________36Equipotential SE____________________________________________________39Europea Capital, SE_________________________________________________40Eurotunnel SE______________________________________________________41Fortis Intertrust Corporate Services SE__________________________________42Galleria di Brennero Brennerbasistunnel BBT SE__________________________43G.I.S. Europe SE____________________________________________________45Go East Invest SE __________________________________________________46Graphisoft SE______________________________________________________47Graphisoft Park SE__________________________________________________48HIT International Trading Aktiengesellschaft______________________________50Innovatis &Cie SE___________________________________________________51Investimenti Belgium SE______________________________________________52Jura Management SE________________________________________________53Kopstal Real Estate SE_______________________________________________54Lyreco CE, SE______________________________________________________55MAN Diesel SE_____________________________________________________56MatMar SE________________________________________________________58MDM SE__________________________________________________________59Media Corner SE____________________________________________________60Minos 2005/01 Vermögensverwaltungs SE_______________________________61MPIT Structured Financial Services SE__________________________________62Narada Europe SE__________________________________________________63Netcon EZHZ, SE___________________________________________________65Nordic Tube SE_____________________________________________________66

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PCC SE___________________________________________________________67Plansee SE________________________________________________________69Prosafe SE________________________________________________________71SE Reussite Finances Groupe_________________________________________74Riga RE - SE_______________________________________________________75RPG Industries SE__________________________________________________76SE Sampo Life Insurance Baltic________________________________________77Sarpedon 2006/01 Vermögensverwaltungs SE____________________________79Schering-Plough Clinical Trials SE______________________________________80SCS Europe SE____________________________________________________81Sevic Systems SE___________________________________________________82Startplattan 39001 SE________________________________________________83Startplattan 39002 SE________________________________________________84Strabag Bauholding SE_______________________________________________85Sunshine-Invest SE__________________________________________________88Tchibo Beteiligunsinvest SE___________________________________________89TCN Urop SE______________________________________________________90Tourism Real Estate Property Holding SE________________________________91Tourism Real Estate Services Holding SE________________________________92SE TradeCom Finanzinvest___________________________________________93Viel et Compagnie-Finance - SE________________________________________94World-Wide-Invest SE________________________________________________95YSL Beauté Benelux SE______________________________________________96

II. Planned SEs

(in alphabetical order)____________________________ _______________________97BASF AG__________________________________________________________98Fresenius AG______________________________________________________99Mensch und Maschine Software AG____________________________________101Nordea Bank AB (publ)______________________________________________103Odfjell ASA_______________________________________________________105Dr. Ing. h.c. F. Porsche AG___________________________________________107SCOR Group______________________________________________________108Suez SA_________________________________________________________110Suomi Mutual Life Assurance Company_________________________________111Surteco AG_______________________________________________________112

III. Announcement of interest in the establishment of an SE

(in alphabetical order)____________________________ ______________________114

IV. Renamed Shelf SEs______________________________ ______________________117Atrium Erste Europäische VV SE______________________________________118Atrium Fünfte Europäische VV SE_____________________________________119

V. Liquidated/Transformed SEs______________________ _______________________120Europäische Gesellschaft (SE) – Erwerb und Verwaltung von Vermögen_______121Tetra Laval Capital Ltd______________________________________________122Tetra Laval Finance & Treasury Ltd.____________________________________123

VI. Failed SEs_____________________________________ _______________________124Zoll Pool Hafen Hamburg SE_________________________________________125

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I.Established SEs

(in alphabetical order)

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Afschrift SEOfficial homepage: ØBranch: Legal adviceStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 28-07-2005, Brussels (Belgium)Seat before SE: n/aSeat of SE: Luxembourg (Luxembourg)Form of establishment: MergerCompanies concerned: Thierry Afschrift and Partners (Belgium), Afschrift y Asociados,

Abogados (Spain)Corporate governancestructure before SE:

Two-tier3

Corporate governancestructure of SE:

Ø

Total number of employeesworldwide:

Ø

Countries of operation: ØCountries concerned: ØNational trade unionsinvolved:

Ø

European trade unionfederations involved:

Ø

EWC formerly existed: n/aEstablishment of SNB: ØBoard-level employeerepresentation before SEfoundation:

n/a

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: - transfer of seats to Luxembourg (Luxembourg) on 12.04.2007

Last update: 05-06-2007References:Supplement of the Official Journal 2007/S 90-109378Supplement of the Official Journal 2005/S 243-239129

Legend:n/a … category not applicable

Ø … information not available

1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board.

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Alfred Berg SEOfficial homepage: www.alfredberg.se Branch: Investment bank Status: EstablishedAnnounced intention on1: 12-04-2005Official process initiated on2: 12-04-2005Registered on/in: 30-09-2005 (Sweden)Seat before SE: Stockholm (Sweden)Seat of SE: Stockholm (Sweden)Form of establishment: ConversionCompanies concerned: Alfred Berg Fondkommission AB (publ)Corporate governancestructure before SE:

One-tier3


One-tier3


322

Countries of operation: Denmark (59), Finland (66), Norway (53), Sweden (144)Countries concerned: See aboveNational trade unionsinvolved:

Ø


Ø

EWC formerly existed: n/aEstablishment of SNB: Was formed properlyBoard-level employeerepresentation before SEfoundation:

None

Distribution of SNB seats: Sweden 5 reps, Denmark 2 reps, Finland 2 reps, Norway 2 reps, totalnumber = 11

Content of agreement: Signed on 25-05-2005Information and Consultation:-A “Nordic Employee Council” (NEC) has been created, consisting of5 members (2 from Sweden, 1 from Finland, 1 from Norway and 1from Denmark).-Members of the NEC must be employees of the company-Mandate period: 2 years-Ordinary meetings between the NEC and the company twice a year-Working language is English, if necessary simultaneous interpretingis provided-Experts are allowed-Preparation and participation in meetings are considered as workingtime, training for NEC membership, as well as the use of interpretersand experts, are covered by the companyExpenses:-Coverage of NEC’s expenses by the companyParticipation:-No participation rightsStructural changes:-In case of significant changes, such as transfer of registered officeor widespread restructuring, either party can give written notice ofrenegotiation of the agreement.Expiry date:-30-09-2009

Motives: -Simplification of the corporate legal structure (branch structureinstead of separate companies)-Reduce operational risk-Enhance capital efficiency and operational efficiency-Unified platform will increase our ability to better serve our clientsand increase our product development

Comments:Last update: 23-05-2006

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References:Company homepageAlfred Berg (2005) Alfred Berg to become a European Company. Available from http://www.alfred

berg.se/content/pressreleases/Pressrelease_050412.pdf [Accessed 20-04-2005] Downloadavailable

Supplement of the Official Journal 2006/S 63-064938



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into an SE or theplan to set up a holding SE or the agreement to form a subsidiary SE or the agreement to transform into an SE.3 One-tier structure: board of directors.

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Algest SEOfficial homepage: ØBranch: Real estate servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 11-05-2006 Luxembourg (Luxembourg)Seat before SE:Seat of SE: Luxembourg (LuxembourgForm of establishment: MergerCompanies concerned: ALGEST Luxembourg S.A. (Luxembourg), COGESPAR (France)Corporate governancestructure before SE:

n/a


One-tier3


Ø


Ø


Ø


n/a

Distribution of SNB seats: ØContent of agreement: -ØMotives: -ØComments:Last update: 04-08-2006References:Commercial registerSupplement of the Official Journal 2006/S 136-145464



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into an SE or theplan to set up a holding SE or the agreement to form a subsidiary SE or the agreement to transform into an SE.3 One-tier structure: board of directors.

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Allianz SEOfficial homepage: www.allianz.deBranch: Insurance company Status: EstablishedAnnounced intention on1: 11-09-2005Official process initiated on2: 16-12-2005Registered on/in: 13-10-2006 in Munich (Germany)Seat before SE: Munich, GermanySeat of SE: Munich (Germany)Form of establishment: Merger-SECompanies concerned: Allianz AG; Riunione Adriatica Di Sicurta S.p.A. (RAS), ØCorporate governancestructure before SE:

Two-tier3


Two-tier3


177,000

Countries of operation4: Australia, Austria, Belgium, Bulgaria, Burkina Faso, Cameroon,Canada, Central African Republic, China, Colombia, Cote d’Ivoire,Croatia, Czech Republic, Egypt, France, French Guyana, Germany,Greece, Hungary, India, Indonesia, Ireland, Italy, Luxembourg, Mali,Mexico, Morocco, Namibia, Netherlands, Pakistan, Poland, Portugal,Romania, Russia, Senegal, Slovakia, Spain, Sweden, Switzerland,Thailand, Togo, UK, USA, Venezuela

Countries concerned: Austria (3,274), Belgium (1,684), Cyprus (1), Czech Republic (953),Denmark (82), Estonia (3), Finland (44), France (17,127), Germany(78,374), Greece (452), Hungary (3,188), Ireland (894), Italy (7,892),Latvia (8), Lithuania (32), Luxembourg (495), Netherlands (2,066),Norway (29), Poland (1,371), Portugal (1,022), Slovakia (2,617),Spain (3,099), Sweden (71), UK (9,138) (in total 133,846)

National trade unionsinvolved:

Ver.di


UNI Finance

EWC formerly existed: YesEstablishment of SNB: First meeting on 27-03-2006Board-level employeerepresentation before SEfoundation:

Yes (half the supervisory board seats)

Distribution of SNB seats: In total 30 members: 6 Germany (including 2 trade union seats), 1Austria, 1 Belgium, 1 Cyprus, 1 Czech Republic, 1 Denmark, 1Estonia, 1 Finland, 2 France, 1 Greece, 1 Hungary, 1 Ireland, 1 Italy,1 Latvia, 1 Lithuania, 1 Luxembourg, 1 Netherlands, 1 Norway, 1Poland, 1 Portugal, 1 Slovakia, 1 Spain, 1 Sweden, 1 UK

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Content of agreement: Signed on 20-09-2006The agreement covers all companies of the group in all EFTAcountries.Information and consultation through an SE Works Council:-37 Members from 24 countries-Mandate period: 4 years-Composition according to number of employees in the differentoperating countries by the end of the financial year-Appointment/selection according to national provisions-Meets twice per year; in addition: up to two extraordinary meetings-Experts may be invited-Employee representatives on the supervisory board participate uponinvitation-Up to two representatives from the European trade unions may beinvited to participate provided they are represented in the AllianzGroup-In addition: the Managing Committee consists of a chair, twosubstitutes and two additional members representing at least threecountries and is responsible for the preparation/follow up of meetings,forwarding of information, representation of countries not representedin the SE works council, as well as all other tasks assigned to theCommittee by the SE WC-Additional Committees might be established by the SE WC-The SE WC has the right of initiative in the following areas: equalopportunities, work and health protection, data protection, trainingand education policies.-Expenses, communication, translation, interpreting, travel, training,etc., are covered by the company-SE WC chairman is released from work duties, the other SE WCmembers are granted time off to fulfil their duties-Confidentiality clause

Participation in the Supervisory Board:-Half of the seats on the supervisory board (6 out of 12) are foremployee representatives: 4 Germany, France and UK one each;-Appointment/nomination depends on national provisions-Term of office: No longer than 6 years, reappointments are possible-Have the same rights and obligations as members of the supervisoryboard representing shareholders (in particular confidentiality)-Might be released from work in order to fulfil their duties

Structural changes:-The management negotiates with the SE WC together withrepresentatives of the employees concerned

Expiry:-Termination needs prior notice period of one year – but no soonerthan six years after its entry into force-Each part alone or both parts together can be terminated

Motives: -SE reflects Allianz’s identity-Adjustment to the economic reality of the company-Less bureaucracy-Reduction in the number of supervisory board members-Simplification of the legal structure -Reduction of complexity-Cost reduction-Increase of flexibility-Improvement of competitive position

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Comments: 2 issues regarding the reduction of seats on the supervisory boardfrom 20 to 12-Is the number of seats negotiable?-Does the number have to be divided by 3 (as claimed by themanagement)? Or is this only true for 1/3-parity (as claimed by theemployee representatives)?

Last update: 07-01-2007References:Company homepageMoeder, Ronald (2005) Lockende Alternative für Unternehmen – Die Europa AG setzt sich durch. Sie

profitiert von der weiteren Harmonisierung des Steuerrechts. Handelsblatt, No.205, p 11.Strachwitz, Irmela (2005) Europa AG – Die neue Freiheit der Allianz. Manager-magazin.de from 19-

10-2005. Available from: www.manager-magazin.de/unternehmen/artikel/0,2828,379754,00.html[Accessed 09-11-2005]

Schrader, Martin (2005) Europa AG im Aufwind? dw-world.de from 13-10-2005. Available from:www.dw-world.de/dw/article/0,5830,178263,00.html [Accessed 26-12-2005]

Fromme, Herbert (2005) Allianz teilt Vertriebsverantwortung. Financial Times Deutschland from 30-09-2005. Available from ftd.de/ub/ve/24446.html?mode=print [Accessed 03-10-2005]

Herden, Ingrid (2005) Allianz: Zug um Zug in eine neue Liga. Available from: www.capital.de/polunt/art/267240.html?viewstyle=print [Accessed 03-10-2005]

Storn, Arne (2005) Eine richtige Revolution. Die Zeit 38/2005 from 15-09-2005, page 27. Availablefrom: zeus.zeit.de/text/2005/38/Allianz [Accessed 03-10-2005]

Allianz’s new status – Is it worth companies being really European? Financial Times (UK) from 13-09-2005, page 20. Available from: proquest.umi.com/pqdweb?did=895319691&sid=3&clientId=17051RQT=309&Vname=PQD [Accessed 26-09-2005]

Allianz Group (2005) Interview mit Michael Diekmann: “Der richtige Rahmen”. Press release from 16-09-2005. Available from: www.allianz.com/azcom/dp/cda/0,,910484-49,00.html [Accessed 03-10-2005]

Nölting, Andreas (2005) Europa AG – „Die Allianz befreit sich von deutschen Standortrisiken“.manager-magazin.de from 12-09-20005. Available from: www.manager-magazin.de/unternehmen/artikel/0,2828,374221,00.html [Accessed 03-10-2005]

Allianz-Umbau zur Europa AG. manager-magazin.de from 12-09-2005. Available from:www.manager-magazin.de/unternehmen/artikel/0,2828,374197,00.html [Accessed 03-10-2005]

Busse, Caspar and Doster, Elisabeth (2005) Neue Rechtsform – Allianz baut den Konzern völlig um.Süddeutsche Zeitung from 12-09-2005. Available from: www.sueddeutsche.de/,wirm1/wirtschaft/artikel/359/60299/ [Accessed 03-10-2005]

Allianz Group (2005) Allianz AG künftig Europäische Gesellschaft (SE). Press release from 11-09-2005. Available from: www.allianz.com/azcom/dp/cda/0899077-49,00.html [Accessed 16-09-2005]

Supplement of the Official Journal: 2006/S 236-251650



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board.4 Number of employees available from EWC database 2004 published by ETUI.

ARTEMIS Global Capital SEOfficial homepage: ØBranch: Financial ServicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 11-10-2006, Bremen (Germany)

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Seat before SE: ØSeat of SE: Bremen (Germany)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


Ø


Ø


Ø

EWC formerly existed: ØEstablishment of SNB: ØBoard-level employeerepresentation before SEfoundation:

Ø

Distribution of SNB seats: ØContent of agreement: -ØMotives: -ØComments:Last update: 07-01-2007References:Supplement of the Official Journal 2006/S 236-251649



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into an SE or theplan to set up a holding SE or the agreement to form a subsidiary SE or the agreement to transform into an SE.

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Atrium Achte Europäische VV SEOfficial homepage: NoneBranch: Shelf company4

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 21-04-2006, Charlottenburg (Germany)Seat before SE: n/aSeat of SE: Berlin (Germany)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

n/a


One-tier3


No employees

Countries of operation: n/aCountries concerned: n/aNational trade unionsinvolved:

n/a


n/a

EWC formerly existed: n/aEstablishment of SNB: n/aBoard-level employeerepresentation before SEfoundation:

n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments:Last update: 09-06-2006References:Supplement of the Official Journal: 2006/S 96-101968Handelsregister AG Charlottenburg, HRB 101574 B



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 One-tier structure: board of directors.4 A shelf company is an „off the shelf“ company, one which has not been set up for a specific purposebut it is available and generally can be bought by anyone who wants it. Some specialist companiesoffer shelf companies to businesses so that they can set up in business very quickly.

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Atrium Dritte Europäische VV SEOfficial homepage: NoneBranch: Shelf company3


n/a


Ø


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments:Last update: 07-04-2006References:Supplement of the Official Journal: 2006/S 68-070288



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 A shelf company is an „off the shelf“ company, one which has not been set up for a specific purposebut it is available and generally can be bought by anyone who wants it. Some specialist companiesoffer shelf companies to businesses so that they can set up in business very quickly.

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Atrium Vierte Europäische VV SEOfficial homepage: NoneBranch: Shelf company3

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 01-02-2006, Düsseldorf (Germany)Seat before SE: n/aSeat of SE: Düsseldorf (Germany)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

n/a


Ø


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments:Last update: 27-03-2006References:Supplement of the Official Journal: 2006/S 54-055665Handelsregister AG Düsseldorf, HRB 53361




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Atrium Neunte Europäische VV SEOfficial homepage: NoneBranch: Shelf company4


n/a


One-tier3


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments:Last update: 09-06-2006References:Supplement of the Official Journal: 2006/S 96-101969Handelsregister AG Charlottenburg, HRB 101575 B




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Beiten Burkhardt EU-Beteiligungen SEOfficial homepage: www.bblaw.comBranch: Shelf company3

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 18-11-2005, Munich (Germany)Seat before SE: n/aSeat of SE: Munich (Germany)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

n/a


Ø


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: n/aComments: Established a subsidiary SE: Sarpedon 2006/01 Vermögensverwaltungs

SELast update: 08-06-2007References:Beiten Burkhardt Rechtsanwaltsgesellschft mbH (2005) Beiten Burkhardt gründet eigene Europa AG.

Press release from 05-12-2005. Available from: www.bblaw.dom/uploads/media/Europa_AG_01.pdf[Accessed 07-12-2005]





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Joh. A. Benckiser SE (JAB)Official homepage: ØBranch: ØStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 10-4-2007, Ludwigshafen (Germany)Seat before SE: Ludwigshafen (Germany)Seat of SE: Vienna (Austria)Form of establishment: ConversionCompanies concerned: Joh. A. Benckiser AG, Benckiser Besitz und Service GmbH, Joh. A.

Benckiser Holdings BV, Joh. A. Benckiser Investments BVCorporate governancestructure before SE:

Two-tier3


One-tier4


Ø

Countries of operation: ØCountries concerned: Germany, the NetherlandsNational trade unionsinvolved:

No


No

EWC formerly existed: NoEstablishment of SNB: YesBoard-level employeerepresentation before SEfoundation:

No

Distribution of SNB seats: ØContent of agreement: The SNB agreed on 15 May 2006 not to commence negotiations.Motives: ØComments: Transfer of seat to Vienna as of 09-02-2007Last update: 05-06-2007References:Internal sourceCompany registersSupplement of the Official Journal 2006/S 192-203546Supplement of the Official Journal 2007/S 101-123775



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board.4 One-tier structure: board of directors.

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Beteiligungs- und Investment SEOfficial homepage: ØBranch: ØStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 08-09-2005, Luxembourg (Luxembourg)Seat before SE: ØSeat of SE: Luxembourg (Luxembourg)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: -ØComments: ØLast update: 31-10-2006References:Supplement of the Official Journal 2006/S207-219838



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.

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BIBO ZWEITE Vermögensverwaltungsgesellschaft SEOfficial homepage: ØBranch: Financial ServicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 14-11-2006, Frankfurt (Germany)Seat before SE: ØSeat of SE: Cheshunt (UK)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: -ØComments: Transfer of seat as of 19-01-2007Last update: 18-03-2007References:Supplement of the Official Journal 2007/S 34-040292Supplement of the Official Journal 2007/S 7-006605




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Bolagsstiftarna International SEOfficial homepage: NoneBranch: Shelf company4

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 14-10-2004, Sundsvall (Sweden)Seat before SE: ØSeat of SE: Gothenburg (Sweden)Form of establishment: Subsidiary SECompanies concerned: Bolagsstiftarna Förvaltning Sverige AB (Sweden) and

Skandinavisk Selskabsret A/S (Denmark)Corporate governance structurebefore SE:

One-tier3

Corporate governance structure of SE: One-tier3

Total number of employees worldwide: No employeesCountries of operation: Sweden, DenmarkCountries concerned: Sweden, DenmarkNational trade unions involved: n/aEuropean trade union federationsinvolved:

n/a

EWC formerly existed: n/aEstablishment of SNB: n/aBoard-level employee representationbefore SE foundation:

n/a

Distribution of SNB seats: n/aContent of agreement: There will be no employees in the SE. Hence, no decision can be

taken concerning employee involvement, works councils, periodof validity, composition or scope of the agreement.

Motives: ØComments: In the event of transfer of seat or an increased number of

employees, negotiations on employee involvement shallcommence.

Last update: 24-05-2006References:Först Europabolage registrerat hos Bolagsverket (2004) Press release from 10-18-2004. Available from:

http://www.bolagsverket.se/om_bolagsverket/press/pressmeddelanden/2004/meddelanden/20041018.html [Accessed 02-12-2005]





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BOLBU Beteiligungsgesellschaft SEOfficial homepage: ØBranch: Financial ServicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 11-10-2006, Frankfurt (Germany)Seat before SE: n/aSeat of SE: Cheshunt (UK)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: -ØMotives: -ØComments: Transfer of seat as of 19-01-2007Last update: 18-03-2007References:Supplement of the Official Journal 2007/S 34-040291Supplement of the Official Journal 2006/S 245-262234




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Carthago Value Invest SEOfficial homepage: http://www.cviag.de/Branch: Financial servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 15-02-2006, Frankfurt a. M. (Germany)Seat before SE: n/aSeat of SE: Frankfurt a. M. (Germany)Form of establishment: Subsidiary SECompanies concerned: Carthago Capital Beteiligungen AGCorporate governance structurebefore SE:

n/a

Corporate governance structure ofSE:

Two-tier3


5

Countries of operation: ØCountries concerned: ØNational trade unions involved: ØEuropean trade union federationsinvolved:

Ø


n/a

Distribution of SNB seats: ØContent of agreement: ØMotives: -Strong European capital market orientation

-Increased flexibility-Improved competitive position-Possibility of IPO

Comments: Merged with Carthago Value Invest AG on 04-07-2006Last update: 11-08-2006References:Carthago Value Invest SE ([email protected]) (10-08-2006) AW: Anfrage: Carthago Value Invest SE.Personal email to Sandra Schwimbersky ([email protected])Hinweise auf eine bevorstehende Verschmelzung. From 24-04-06. Available from: http://www.wertpapier-analysten.de/wyttohomepage/welcome.php?category=news&view=research&detail=wyttorenews%237679 (Accessed 15-05-06)DGAP (2006) Carthago Capital Beteiligungen AG. DGPA News from 18-04-06. Available from:http://de.bzi.yahoo.com/18042006/36/dgpa-news-carthago-capital-beteiligungen-ag-deutsch.html(Accessed 15-05-06)Supplement of the Official Journal: 2006/S 74-076666




- 23 -

Conrad Electronic SEOfficial homepage: www.conrad.deBranch: RetailStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: 01-12-2005Registered on/in: 18-08-2006, Amberg (Germany)Seat before SE: Hirschau (Germany) and Mödling (Austria)Seat of SE: Hirschau (Germany)Form of establishment: Merger-SECompanies concerned: Conrad Electronic AG (Germany), Hotel Burg Wernberg (Germany),

Conrad Beteiligungsverwaltungs AG (Austria)Corporate governancestructure before SE:

Two-tier3


One-tier4


2,314 (2,313 in Germany, 1 in Austria)

Countries of operation: Austria, Belgium, France, Germany, Netherlands, Slovenia, Sweden,Switzerland, UK

Countries concerned: Austria, GermanyNational trade unionsinvolved:

No


No

EWC formerly existed: NoEstablishment of SNB: Yes (constitutive meeting on 01-12-2005)Board-level employeerepresentation before SEfoundation:

No

Distribution of SNB seats: 11 members: 10 Germany, 1 AustriaContent of agreement: Signed 01-12-2005

Information and consultation through Economic Committee of thegroup works council (also for Conrad Holding SE):-No SE WC-Economic Committee has at least 3, but no more than 7 membersthat are employed by Conrad Holding SE or one of its daughtercompanies and at least one member must be a member of thegroups works council-Number of members depends on the number of employees-One meeting per year-Extraordinary meetings in case of transfer (of parts) of the company,closure, sale, major dismissals, mergers and acquisitions-Related expenses are covered by the company

Participation in the Board of Directors:-No

Structural changes:-Structural changes are all changes that correspond to an SEestablishment in its consequences, i.e. merger with other companies,change of corporate governance system, insofar as it has an impacton employee involvement -The management shall negotiate with the newly constituted SNB.Not to be considered as a structural change are transfer of seat,personnel fluctuation, takeover of companies

Motives: -ØComments: ØLast update: 10-02-2007References:Internal SourcesSupplement of the Official Journal 2007/S 6-005453

- 24 -




- 25 -

Conrad Holding SEOfficial homepage: ØBranch: RetailStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 18-08-2006, Amberg (Germany)Seat before SE: ØSeat of SE: Hirschau (Germany)Form of establishment: Merger Companies concerned: Conrad Holding AG (Germany), Conrad Holding AG (Austria)Corporate governancestructure before SE:

Two-tier3


One-tier4


2,314

Countries of operation: ØCountries concerned: Germany, AustriaNational trade unionsinvolved:

Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: -ØComments: For details regarding employee involvement see Conrad Electronic

SELast update: 18-03-2007References:Internal SourcesSupplement of the Official Journal 2007/S 6-005452




- 26 -

Convergence CT SEOfficial homepage: http://www.convergencect.com/ Branch: Medical engineeringStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 31-01-2006, Charlottenburg (Germany)Seat before SE: n/aSeat of SE: Berlin (Germany)Form of establishment: Merger-SECompanies concerned: Atrium Erste Europäische VV SE, Live Holding AG FrankfurtCorporate governancestructure before SE:

n/a


One-tier3


3

Countries of operation: ØCountries concerned: Germany (3)National trade unionsinvolved:

Ø


Ø


n/a

Distribution of SNB seats: ØContent of agreement: Employees renounced their involvement rights.Motives: ØComments: A German AG seated in Frankfurt with three employees merged with

Atrium Erste Europäische VV SE and so created Convergence CTSE. At the same time, the head office was transferred to Berlin. Anagreement on employee involvement was negotiated (see above).

Last update: 21-06-2006References:Vom Konzern bis zur Briefkastenfirma (2006) Available from: www.boeckler.de/pdf/magmb_2006_05-

kluge.pdf [Accessed 24-05-2006]. Supplement of the Official Journal: 2006/S 68-070287



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 One-tier structure: board of directors.

- 27 -

Culture Commune SEOfficial homepage: ØBranch: ØStatus: ØAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 31-07-2006, Brussels (Belgium)Seat before SE: ØSeat of SE: Brussels (Belgium)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: ØLast update: 15-10-2006References:Supplement of the Official Journal: 2006/S 197-208615




- 28 -

DIAG Human SEOfficial homepage: ØBranch: Financial ServicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 29-08-2006, Vaduz (Liechtenstein)Seat before SE: ØSeat of SE: Vaduz (Liechtenstein)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


One-tier3


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: ØLast update: 15-09-2006References:Supplement of the Official Journal: 2006/S 172-182841




- 29 -

Donata Holding SEOfficial homepage: ØBranch: ØStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 21-03-2006, Düsseldorf (Germany)Seat before SE: ØSeat of SE: Düsseldorf (Germany)Form of establishment: Renamed Atrium Fünfte Europäische VV SECompanies concerned: ØCorporate governancestructure before SE:

Ø


One-tier4


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: -Donata Holding GmbH & CoKG and bkc Holding GmbH (both

Germany) are to be merged into Donata Holding SE-Donata Holding GmbH & CoKG: 3,800 employees in 15 Europeancountries, EWC established-Bkc Holding GmbH: no employees, daughter company of DonataHolding GmbH &CoKG-SNB established (20 members: Austria 1, Belgium, Czech Republic1, France 2, Germany 2, Greece 1, Hungary 1, Ireland 1, Italy 1,Netherlands 1, Poland 1, Portugal 1, Slovakia 1, Spain 3, UK 2)-Negotiations regarding employee involvement ongoing-Expected information and consultation procedure

Last update: 05-06-2007References:Internal source



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a Holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 A shelf company is an „off the shelf“ company, one which has not been set up for a specific purposebut it is available and generally can be bought by anyone who wants it. Some specialist companiesoffer shelf companies to businesses so that they can set up in business very quickly.4 One-tier structure: board of directors.

- 30 -

EBD Erste Verwaltungsgesellschaft SEOfficial homepage: ØBranch: Shelf3

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 29-09-2006, Aachen (Germany)Seat before SE: ØSeat of SE: Aachen (Germany)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: -ØComments:Last update: 07-01-2007References:Supplement of the Official Journal 2006/S 222-237610



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into an SE or theplan to set up a holding SE or the agreement to form a subsidiary SE or the agreement to transform into an SE.3 A shelf company is an „off the shelf“ company, one which has not been set up for a specific purpose but it isavailable and generally can be bought by anyone who wants it. Some specialist companies offer shelf companiesto businesses so that they can set up in business very quickly.

- 31 -

EBD European Business Development SEOfficial homepage: ØBranch: ConsultancyStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 17-10-2005, Aachen (Germany)Seat before SE: n/aSeat of SE: Aachen (Germany)Form of establishment: ØCompanies concerned: Brenner Solutions Ltd (UK), Genpro Verwaltungs GmbH (Germany)Corporate governancestructure before SE:

n/a


Ø


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments: business consultancy, restructuring/merger + acquisition projects,

establishment of shelf SEsLast update: 27-03-2006References:Company homepageSupplement of the Official Journal: 2005/S 222-218561Handelsregister AG 52070 Aachen, HRB 13264




- 32 -

EBD Vierte Verwaltungsgesellschaft SEOfficial homepage: ØBranch: Shelf company3


Ø


Ø


No employees


n/a


n/a


n/a





- 33 -

EBD Zweite Verwaltungsgesellschaft SEOfficial homepage: ØBranch: Shelf3

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 29-09-2006, Aachen (Germany)Seat before SE: n/aSeat of SE: Aachen (Germany)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


No employees


n/a


n/a


n/a





- 34 -

Elcoteq SEOfficial homepage: www.elcoteq.comBranch: Electronics manufacturing services Status: Established Announced intention on1: 08-10-2004Official process initiated on2: 08-10-2004Registered on/in: 01-10-2005, Helsinki (Finland)Seat before SE: Lohja (Finland)Seat of SE: Lohja (Finland)Form of establishment: ConversionCompanies concerned: Elcoteq Network CorporationCorporate governance structurebefore SE:

One-tier3


One-tier3


19,600

Countries of operation: Brazil, China, Estonia, Finland, Germany, Hungary, India, Japan,Korea, Mexico, Russia, Sweden, Switzerland, US

Countries concerned: Estonia (3342), Finland (861), Germany (548), Hungary (2692),Sweden (7) (in total 7450)

National trade unions involved: Finnish Metal Workers Union, Union of Professional Engineers IL,Union of Salaried Employees TU

European trade union federationsinvolved:

EMF

EWC formerly existed: NoEstablishment of SNB: SNB was formed properlyBoard-level employeerepresentation before SEfoundation:

No

Distribution of SNB seats: Estonia 5, Hungary 4, Finland 2, Germany 1, Sweden 1 (totalnumber of members 13)

Content of agreement: Signed on 17-08-2005Information and Consultation:- Representative Body (13 members) has been established.-2 meetings/year-In addition: there is a Working Committee (3 members of theRepresentative Body) that prepares meetings of theRepresentative Body, negotiates in exceptional circumstances andmeets twice a yearParticipation:-No participation rightsStructural changes:-Not specifiedExpenses:-Expenses are covered by the company.Expiry date:2009. Thereafter the agreement will continue to be valid unlesseither party terminates it by giving 6 months’ prior notice.

Motives: -Strategic reasons, part of its internationalisation strategy-Creation of a strong European corporate identity-Cost savings by merging its subsidiaries-Enhance efficiency in decision-making-Flexibility in the event of future acquisitions and divestments-Simplification of transfer of seat and cross-border mergers-Creation of an effective structural basis for continuouslyenhancing the company’s competitiveness-Europeanised involvement of employees-Increase the company’s global competitiveness

- 35 -

Comments: -Negotiations lasted 6 months, started on 23-02-2005, there were4 meetings (3 in Finland, 1 in Estonia)-So far: German and Hungarian affiliates have board-levelrepresentation, but not the Finnish parent that is subject to thisconversion; so the employees of the affiliates count whendetermining the total number of employees, but it is irrelevant forthe negotiations on employee involvement whether theseemployees have been covered by board-level representationbecause their companies are not participating in the conversion.-Finnish employee representatives missed the deadline fixed inFinnish law (12 months) which would have made board-levelrepresentation possible in Elcoteq SE. It didn’t help that themanagement pushed for the immediate foundation of the SE.-Agreement was reached under considerable pressure, becausethe fallback provisions would have been even worse (only onemeeting/year of the representative body).-The board of directors of Elcoteq SE prepared a proposal fortransfer of seat to Luxembourg as of 21-12-2006 to be proposedto the AGM on 22-03-2007

Last update: 07-01-2007

- 36 -

References:Company homepageElcoteq SE (2006) Proposal of Elcoteq SE’s Board of Directors to Annual General Meeting that

Elcoteq’s domicile be moved to Luxembourg. Available from:http://www.elcoteq.com/getxml.asp?pid=33322F61CDF9496E930216AEA9575617&layout=2004sisa&long=en&type=rel/url=http://csw.huginonline.com/E/3033/PR/200612/1094966.xml [Accessed 04-01-2007]

Elcoteq SE (2006) Proposal to Transfer Domicile. Available from:http://www.elcoteq.com/modules/upndown/download_file.asp?Id=6BEE7319657E4DDA9D6D9CFD9C43E717&pid=C34E0A24579B4B8F941C709C59DFECC1&layout=2004etu&tabletarget=data_1[Accessed 04-01-2007]

Elcoteq SE (2006) Proposal to Transfer Domicile. Available from:http://www.elcoteq.com/modules/upndown/download_file.asp?Id=58AF942C1DF04C26B567E3EC81ACD63E&pid=C34E0A24579B4B8F941C709C59DFECC1&layout=2004etu&tabletarget=data_1[Accessed 04-01-2007]

Zegnál, Judit (2005) Mixed reception for new company form. Available from: www.bbj.hu/?module=displaystory&story_id=251940&edition_id=3392&format=html [Accessed 04-12-2005]

Brown-Humes, Christopher (2005) Conversion broadens Elcoteq’s horizon. Financial Times, 11-10-2005.

Elcoteq SE (2005) Elcotec – Leading EMS provider to communications technology customer (company presentation from 11-2005). Available from: http://www.elcoteq.com/modules/upndown/download_file.asp?Id=FCE90AE08DC84FAF9C6430D5480DFF10&pid=5C809C6F9F834F6A99E8E9828911C85B&layout=2004sisa&tabletarget=data_1 [Accessed 28-11-2005]

Kaukiainen, Reeta (2005) Elcoteq’s conference on conversion to European company and inaugurationof European office in Budapest. Press release from 30-09-2005. Available from:http://www.elcoteq.com/getxml.asp?pid=33322F61CDF9496E930216AEA9575617&layout=2004sisa&lang=en&type=rel&url=http://cws.huginonline.com/E/3033/PR/200509/1013512.xml [Accessed 02-11-2005] Download available

Elcoteq Network Corporation (2005) Elcoteq converts into a European Company – the new companyname is Elcoteq SE. Press release from 30-09-2005. Available from: www.elcoteq.com/printHuginRelease.asp?url=http://cws.huginonline.com/E/3033/PR/200509/10137.44.xml [Accessed 20-11-2005] Download available

Elcoteq SE (2005) Elcoteq SE’s Interim Report January-September 2005 (authorised). Available from:www.elcoteq.com/getxml.asp?pid=33322F61CDF9496E930216AEA9575617&layout=2004sisa&lang=en&type=rel&url=http://cws.huginonline.com/E/3033/PR/200510/1018198.xml [Accessed 14-11-2005]

Elcoteq Network Corporation (2004) European Company Conversion Plan for Elcoteq NetworkCorporation. Available from:http://www.elcoteq.com/modules/upndown/download_file.asp?Id=3CC3016E34E140CFBDA7F5ECC 58B7B4F&pid=C34E0A24579B4B8F941C709C59DFECC1&layout=200 4etu&tabletarget=data_1 [Accessed 01-12-2004] Download available

Elcoteq Network Corporation (2004) Report by the board of directors on converting Elcoteq NetworkCorporation into a European public limited-liability company. Available from http://www.elcoteq.com/modules/upndown/download_file.asp?Id=055E7F76CC24486F9C512D92686737E1&pid=C34E0A24579B4B8F941C709C59DFECC1&layout=2004etu&tabletarget=data_1 [Accessed 01-12-2004]Download available



Ø … information not available1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 One-tier structure: board of directors.

- 37 -

Equipotential SEOfficial homepage: www.equipotential.seBranch: Financial services Status: Established Announced intention on1: ØOfficial process initiated on2: 12-10-2006Registered on/in: 01-10-2005, Ø (Germany)Seat before SE: ØSeat of SE: Bremen (Germany)Form of establishment: ØCompanies concerned: ØCorporate governance structurebefore SE:

Ø


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: -ØMotives: -ØComments:Last update: 15-10-2006References:Company homepage


Ø … information not available1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.

- 38 -

Europea Capital, SEOfficial homepage: ØBranch: ØStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 16-05-2007, Prague (Czech Republic)Seat before SE: ØSeat of SE: Prague (Czech Republic)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: ØLast update: 08-06-2007References:Supplement of the Official Journal 2007/S 107-131053




- 39 -

Eurotunnel SEOfficial homepage: www.eurotunnel.comBranch: ØStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 04-04-2006, Brussels (Belgium)Seat before SE: n/aSeat of SE: Brussels (Belgium)Form of establishment: Subsidiary SECompanies concerned: Eurotunnel plc (UK), ØCorporate governancestructure before SE:

n/a


Ø


Ø


Ø


Ø


n/a

Distribution of SNB seats: ØContent of agreement: ØMotives: -Optimisation of coordination of commercial operations between

Eurotunnel’s existing subsidiaries in the UK, France, the Beneluxcountries, Germany and Spain-Integration of existing subsidiaries-Simplification of the group’s legal structure -Achievement of cost savings, while maintaining current commercialteams-Improvement of commercial efficiency

Comments: ØLast update: 07-01-2007References:Eurotunnel plc (2006) Eurotunnel to set up a services company under European Law: “Eurotunnel

SE”. Press release on 30-03-2006. Available from: www.eurotunnel.com/ukcP3Main/ukcCorporate/ukcMediaCentre/ukcNewsReleases/ukcNews2006/ukcMarch2006/ukpPr0603EurotunnelSE[Accessed 08-11-2006]

EU regulations: Slow start for European company statute. (2004) EIU ViewsWire from 16-10-2004.Available from:proquest.umi.com/pqdweg?did=759812711&sid=1&Fmt=3&clientIT=17051&RQT=309&Vname=PQD [Accessed 26-09-2005]

Supplement of the Official Journal 2006/S204-216500




- 40 -

Fortis Intertrust Corporate Services SEOfficial homepage: ØBranch: Financial Services Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 08-10-2006, Amsterdam (Netherlands)Seat before SE: ØSeat of SE: Amsterdam (Netherlands)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: -ØComments:Last update: 18-10-2006References:EU regulations: Slow start for European company statute. (2004) EIU ViewsWire from 16-10-2004.

Available from: proquest.umi.com/pqdweg?did=759812711&sid=1&Fmt=3&clientIT=17051&RQT=309&Vname=PQD [Accessed 26-09-2005]

Dutch Chamber of Commerce, file number: 34214122




- 41 -

Galleria di Brennero Brennerbasistunnel BBT SEOfficial homepage: www.bbt-ewiv.com Branch: Construction Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 17-12-2004, Innsbruck (Austria)Seat(s) before SE: ØSeat of SE: Innsbruck (Austria)Form of establishment: MergerCompanies concerned: ØCorporate governancestructure before SE:

Two-tier3


Two-tier3


33

Countries of operation: Austria, ItalyCountries concerned: Austria, ItalyNational trade unionsinvolved:

No


No

EWC formerly existed: n/aEstablishment of SNB: Was formedBoard-level employeerepresentation before SEfoundation:

No

Distribution of SNB seats: ØContent of agreement: SNB and management agreed on the application of the standard

rules resulting in information and consultation, but no participationrights (corresponds to involvement before the establishment of theSE). The SE works council has the right to put an issue on theagenda of the supervisory board and to meet the management beforethe meeting of the supervisory board.

Motives: -Commission suggested establishment of an SE in 2003 -Cross-border infrastructural project

Comments: -Board with 10 members: 3 representatives of each government, 1representative of each railway company and 1 representative of eachprovince concerned -Trade unions and the Chamber of Labour were not involved directlyin the negotiations, but were able to provide employees with relevantinformation.

Last update: 07-04-2006References:Company homepageORF (2003) Europa-AG für Brennerbasistunnel. Available from: tirol.orf.at/oesterreich.orf?read=

detail&channel=6&id=281401 [Accessed 13-09-2003]ORF (2005) EU-Kommission unterstützt Brennertunnel. Available from: tirol.orf.at/oesterreich.orf?

read=detail&channel=6&id=386521 [Accessed 24-06-2005]Supplement of the Official Journal 2005/S 84-081957


Ø … information not available1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board.

- 42 -

G.I.S. Europe SEOfficial homepage: http://www.giseurope.netBranch: Procurement ServicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 23-06-2006, Breda (Netherlands)Seat before SE: n/aSeat of SE: Breda (Netherlands)Form of establishment: MergerCompanies concerned: G.I.S. Netherlands B.V., ØCorporate governancestructure before SE:

n/a


Ø


54

Countries of operation: Belgium, France, Germany, Italy, Netherlands, Spain, UKCountries concerned: ØNational trade unionsinvolved:

Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: -ØMotives: -ØComments:Last update: 07-01-2007References:Company homepageDutch Chamber of Commerce, file number: 20120214




- 43 -

Go East Invest SE Official homepage: go-east-invest.comBranch: ConsultancyStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 17-03-2005, Berlin (Germany)Seat before SE: n/aSeat of SE: Berlin (Germany)Form of establishment: MergerCompanies concerned: ØCorporate governancestructure before SE:

n/a


Two-tier3


No employees

Countries of operation: Germany, Middle and Far EastCountries concerned: ØNational trade unionsinvolved:

n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments: -Registration was possible because the business purpose can be

executed by one person, namely the chairman.-Business purpose: Giving advice on (re)location of industrial sitesand development of new markets, as well as providing services onsite in the Middle and the Far East

Last update: 20-11-2005References:Company homepage




- 44 -

Graphisoft SEOfficial homepage: www.graphisoft.com Branch: IT Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 27-07-2005, Amsterdam (Netherlands)Seat(s) before SE: Ø (Netherlands)Seat of SE: Budapest (Hungary) since 15-12-2005Form of establishment: TransformationCompanies concerned: Graphisoft N.V.Corporate governancestructure before SE:

Two-tier3


One-tier4


253

Countries of operation: Hungary, Germany, Japan, Singapore, Spain, UK, USCountries concerned: ØNational trade unionsinvolved:

Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: ØLast update: 07-04-2006References:Company homepageGraphisoft SE (2006) Graphisoft shares are traded under a new ISIN code at the Budapest Stock

Exchange from 23 January 2006. Available from: http://download.graphisoft.com/ftp/investor/GRPH_01192006_ENG.pdf [Accessed 04-02-2006]

Zegnál, Judit (2005) Mixed reception for new company form. Available from: http://www.bbj.hu/ ? module=displaystory&story_id=251940&edition_id=3392&format=html [Accessed 04-12-2005]

Graphisoft SE (2005) Third Quarter Report (three and nine months ended September 30, 2005).Available from: http://download.graphisoft.com/ftp/investor/en/2005_q3.pdf [Accessed 01-12-2005]

Graphisoft SE (2005) Notarial record of a general meeting of shareholders of Graphisoft SE onNovember 8, 2005. Available from: http://download.graphisoft.com/ftp/investor/GRPH_11082005_Minutes_ENG.pdf [Accessed 01-12-2005]

Graphisoft SE (2005) Notice of extraordinary general meeting of shareholders. Available from:download.graphisoft.com/ftp/investor/GRPH11082005ENG.pdf [Accessed 01-12-2005]



Ø … information not available1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board.4 One-tier structure: board of directors

- 45 -

Graphisoft Park SEOfficial homepage: www.graphisoftparkt.comBranch: Real estate services, Shelf Company3

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 21-08-2006, Budapest (Hungary)Seat(s) before SE: n/aSeat of SE: Budapest (Hungary)Form of establishment: Holding SECompanies concerned: ØCorporate governancestructure before SE:

n/a


One-tier4


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments: -Separation of Graphisoft SE’s core business and real estate

development/office lease business into two independent corporateentities-Approval of the demerger of the real estate development businessunit from Graphisoft SE by the Extraordinary General Meeting ofGraphisoft SE on 29-06-2006-Sole owner of Graphisoft Park Kft. (8 employees)-No operational activities and no employees except the CEO

Last update: 29-08-2006References:Company homepageGraphisoft SE (2006) Demerger of Graphisoft SE has been registered by the Registry Court. Available

from: http://download.graphisoft.com/ftp/investor/GRPH_08212006_ENG.pdf [Accessed 28-08-2006]

Graphisoft SE (2006) Announcement. Available from:http://download.graphisoft.com/ftp/investor/GRPH_06282006ANN_ENG.pdf [Accessed 28-08-2006]

Graphisoft SE (2006) Graphisoft Park SE Real Estate Development European Company Limited byShares Joint Information Memorandum. Available from:http://download.graphisoft.com/ftp/investor/GRPH_06282006PROSP_ENG.pdf [Accessed 28-08-2006]



1 The date when the company first made public its interest in founding an SE.

- 46 -

2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 A shelf company is an „off the shelf“ company, one which has not been set up for a specific purposebut it is available and generally can be bought by anyone who wants it. Some specialist companiesoffer shelf companies to businesses so that they can set up in business very quickly.4 One-tier structure: board of directors

- 47 -

HIT International Trading AktiengesellschaftOfficial homepage: www.paperexchange.comBranch: Paper Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2:Registered on/in: Ø, Berlin (Germany)Seat before SE: ØSeat of SE:Form of establishment: ConversionCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


5


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments:Last update: 05-06-2007References:Internal sourceSupplement of the Official Journal 2007/S 43-051755




- 48 -

Innovatis &Cie SEOfficial homepage: ØBranch: ØStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 28-01-2007, Paris (France)Seat before SE: ØSeat of SE: Paris (France)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments:Last update: 18-03-2007References:Internal resourceSupplement of the Official Journal 2007/S 54-065837




- 49 -

Investimenti Belgium SEOfficial homepage: ØBranch: Financial servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 19-12-2005, Brussels (Belgium)Seat before SE: n/aSeat of SE: Brussels (Belgium)Form of establishment: MergerCompanies concerned: 21 Investimenti Belgium SA (Belgium), Ventuno Investimenti NV

(Netherlands)Corporate governancestructure before SE:

n/a


One-tier3


Ø


Ø


Ø


n/a

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments:Last update: 07-04-2006References:Supplement of the Official Journal 2006/S 24-025584



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 One-tier structure: board of directors

- 50 -

Jura Management SEOfficial homepage: ØBranch: Transport servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 28-03-2006, Rotterdam (Netherlands)Seat before SE: Ø (Netherlands)Seat of SE: Mannheim (Germany)Form of establishment: ConversionCompanies concerned: ØCorporate governancestructure before SE:

Two-tier3


Ø


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments: Transfer of seat to Mannheim as of 26-02-2007

Last update: 27.04.07

References:Supplement of the Official Journal 2007/S 64-077556Supplement of the Official Journal 2006/S 68-070289Netherlands Chamber of Commerce, file number: 24254644




- 51 -

Kopstal Real Estate SEOfficial homepage: ØBranch: Real estateStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 04-04-2007, LuxembourgSeat before SE: Ø Seat of SE: LuxembourgForm of establishment: Ø Companies concerned: ØCorporate governancestructure before SE:

Ø


Ø


Ø


Ø


Ø

EWC formerly existed: Ø Establishment of SNB: Ø Board-level employeerepresentation before SEfoundation:

Ø

Distribution of SNB seats: Ø Content of agreement: Ø Motives: ØComments: Ø


References:Supplement of the Official Journal 2007/S 84-102323




- 52 -

Lyreco CE, SEOfficial homepage: www.lyreco.skBranch: Trade and distribution of office products/suppliesStatus: EstablishedAnnounced intention on1: 01-08-2005Official process initiated on2: 01-08-2005Registered on/in: 08-10-2005, Bratislava (Slovakia)Seat before SE: Ø (Slovakia)Seat of SE: Bratislava (Slovakia)Form of establishment: ConversionCompanies concerned: Lyreco network

Corporate governancestructure before SE:

One-tier3


One-tier3


30

Countries of operation: Slovakia (30), Czech Republic (5 from 09/2006), Hungary (5 from09/2006), Austria (9)

Countries concerned: ØNational trade unionsinvolved:

No


No

EWC formerly existed: n/aEstablishment of SNB: SNB was formed properlyBoard-level employeerepresentation before SEfoundation:

No

Distribution of SNB seats: ØContent of agreement: SNB has decided not to open negotiations on the involvement of

employees in Lyreco CE, SE. Employees have information andconsultation rights in accordance with legal provisions in the MemberStates in which Lyreco CE, SE shall have its employees.

Motives: -Strategic reasons, part of its internationalisation strategy-Creation of a strong European corporate identity-Cost savings by merging its subsidiaries-Europeanised involvement of employees-Increase company’s global competitiveness

Comments: -Slovakia and Austria are served from the Bratislava headquarters-Part of Lyreco group with 10,000 employees in 26 countries(www.lyreco.com, www.officeproductsdepot.co.nz)

Last update: 04-09-2006References:Company homepageInternal sourceSupplement of the Official Journal 2007/S 39-046883




- 53 -

MAN Diesel SEOfficial homepage: www.manbw.com Branch: Diesel engine manufacturerStatus: EstablishedAnnounced intention on1: 21-02-2006Official process initiated on2: 01-12-2005Registered on/in: 28-08-2006, Augsburg (Germany)Seat before SE: Augsburg (Germany)Seat of SE: Augsburg (Germany)Form of establishment: ConversionCompanies concerned: MAN B&W Diesel AGCorporate governancestructure before SE:

Two-tier3


Two-tier3


6,700

Countries of operation: Australia, Czech Republic, Denmark, France, Germany, Singapore.UK

Countries concerned: Czech Republic, Denmark, France, Germany, Greece, Netherlands,Norway, Spain, Sweden, UK


IG Metall, CO industri, FGMM-CFDT, FTM-CGT, others


EMF

EWC formerly existed: YesEstablishment of SNB: Formed; negotiations start in calendar week 12Board-level employeerepresentation before SEfoundation:

Yes (half the seats on the supervisory boards)

Distribution of SNB seats: Germany: 5 seats, Denmark: 4 seats, France: 2 seats, all othercountries (Czech Republic, Greece, Netherlands, Norway, Spain,Sweden, UK): one seat each

Content of agreement: Signed on 27-04-2006Information and consultation:-SE Works Council: 9 members (4 Germany, 2 Denmark, 1 eachCzech Republic and France, 1 represents the countries where thegroup only has service centres)-Term of office: 4 years-One meeting per year; if necessary extraordinary meetings can becalledParticipation:-50% of the members of the supervisory board are employeerepresentatives, i.e. 5 out of 10-3 seats will be allotted to German and 2 to Danish representatives-One of these seats each will be given to trade union representatives-If the number of employees decreases to less than 2,000, then inaccordance with German law one-third of the members of thesupervisory board are employee representatives Re-negotiations:-When relevant legislation changes-When structural changes affect at least 20% of the employees of thegroup and these changes might reduce the involvement rights ofemployeesExpiry date:-The agreement can be terminated in writing by any party by 8months before the calendar year ends.-Earliest in 2016

Motives: -“We will think and act on an even more international scale, which isabsolutely essential in the face of global competition.”-More effective integration of the international business in the DieselEngine Division

- 54 -

Comments:Last update: 07-01-2007References:Company homepageMAN B&W Diesel (2006) MAN Diesel becomes a European Company. Press release from 31-08-

2006. Available from: http://www.manbw.de/files/news/filesof6023/060831_E-Fachpressemitteilung%20SE.pdf [Accessed 20-09-2006]

MAN B&W Diesel (2006) Course set to become European Company – Co-determination agreementfor the future MAN Diesel SE. Press release from 28-04-2006. Available from:http://www.manbw.com/files/news/filesof5602/060428_man_co-determinationSE_engl.pdf[Accessed 17-05-2006]

MAN B&W Diesel (2006) MAN Diesel SE – new European Company. Press release from 21-02-2006.Available from: www.manbw.com/files/news/filesof5432/060221_MAN-SE_engl.pdf [Accessed 27-02-2006]





- 55 -

MatMar SEOfficial homepage: http://www.matmar-se.com/start.phpBranch: FoodStatus: EstablishedAnnounced intention on:1 ØOfficial process initiated on:2 ØRegistered on/in: 01-02-2006, Vienna (Austria)Seat before SE: n/aSeat of SE: Vienna (Austria)Form of establishment: Holding SECompanies concerned: Matmar Investment Ltd. (UK), Buszesz-Chef Kft (Hungary)Corporate governancestructure before SE:

n/a


One-tier3


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: -ØComments:Last update: 24-03-2006References:Austrian commercial registerSupplement of the Official Journal 2006/S 54-055663



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set-up a Holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 One -tier structure: board of directors.

- 56 -

MDM SEOfficial homepage: ØBranch: Financial servicesStatus: EstablishedAnnounced intention on:1 ØOfficial process initiated on:2 ØRegistered on/in: 17-01-2007, Vienna (Austria)Seat before SE: n/aSeat of SE: Vienna (Austria)Form of establishment: Merger SECompanies concerned: MDM Holding AG (Austria), MDM Financial Holding (Cyprus)Corporate governancestructure before SE:

n/a


Two-tier3


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: -ØComments: Operations mainly in Russia with moe than 4,500 employeesLast update: 18-03-2007References:Austrian commercial registerSupplement of the Official Journal 2007/S 39-046882



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set-up a Holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board.

- 57 -

Media Corner SEOfficial homepage: ØBranch: Real estate and construction servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 14-12-2004, Brussels (Belgium)Seat before SE: n/aSeat of SE: Brussels (Belgium)Form of establishment: MergerCompanies concerned: Inter Real Estate Trusty (Belgium), RB Management (Belgium)Corporate governancestructure before SE:

n/a


One-tier3


Ø


Ø


Ø


n/a

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: Only one country involved? Cross-boarder aspect?Last update: 18-03-2006References:Supplement of the Official Journal 2005/S 243-239130



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 One-tier structure: board of directors

- 58 -

Minos 2005/01 Vermögensverwaltungs SEOfficial homepage: ØBranch: Financial servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 05-12-2005, Munich (Germany)Seat before SE: ØSeat of SE: Munich (Germany)Form of establishment: ØCompanies concerned: Beiten Burkhardt EU-Beteiligungen SE, othersCorporate governancestructure before SE:

Ø


one-tier3


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments:Last update: 27-03-2006References:Supplement of the Official Journal: 2005/S 243-239127Handelsregister AG 80333 München, HRB 159907




- 59 -

MPIT Structured Financial Services SEOfficial homepage: NoneBranch: Financial ServicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 08-10-2004, Amsterdam (Netherlands)Seat before SE: n/aSeat of SE: Amsterdam (Netherlands)Form of establishment: Subsidiary-SECompanies concerned: Phidias Management N.V. (Belgium), MPI Danmark ApS (Denmark),

Ecoreal S.A. (Luxemburg), B.V. Holding Maatschappij “De Hondsrug”(Netherlands)


n/a


Ø


No employees

Countries of operation: Netherlands, BelgiumCountries concerned: NetherlandsNational trade unionsinvolved:

n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments: No employees, no negotiations, no agreement, no national

transposition at time of registrationLast update: 07-04-2006References:Articles of associationSupplement of the Official Journal 2005/S86-083586




- 60 -

Narada Europe SEOfficial homepage: NoneBranch: TradeStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 20-01-2006, Bronnoysund (Norway)Seat before SE: ØSeat of SE: Drammen (Norway)Form of establishment: ØCompanies concerned: Eltek Norway and Eltek SwedenCorporate governancestructure before SE:Corporate governancestructure of SE:

One-tier3


No employees


n/a


n/a


Ø

Distribution of SNB seats: n/aContent of agreement: n/aMotives: Eltek considers Narada an interesting and possible profitably

company and is therefore helping them into Europe (“taking them toEurope”) by establishing the SE. One of board members says that –since batteries are a large part of their purchase, they wanted to have“their own” company. The Chief Financial Officer in Eltek emphasizedthat they wanted to be able to move easily between the Europeancountries. Narada would serve as an example of foreign (as in non-European) companies, by European partners, using SE as a way ofestablishing a European branch.

Comments: Narada is originally a Chinese battery company wanting to get intothe European market (http://www.naradabattery.com/Company/Group.html). Eltek is a Norwegian specialist telecom power company,established in 1971, operating in approx 20 countries and has approx600 employees in Norway (www.eltek.asa). The SE is formallyestablished by Eltek Norway and Eltek Sweden (to cover the claim ofbeing present in more than one European country). Narada Europe is40% owned by Eltek and 60% by the Chinese Narada. The CEO ofNarada is the head of Eltek Britain. The reason for choosing Norwayas country of establishment is the fact that Eltek is a Norwegiancompany (registered at the Oslo Stock Exchange).

The company has no employees and therefore according to thecurrent regulations (to the Norwegian SE Act) no procedures havebeen conducted. Both the management and the board memberconfirm that employee participation has not been an issue. However,by choosing Norway and Sweden as participating countries, thecompany covers two countries with extensive rights ofemployeeboard representation (if more than 30 employees). Eltek itself has twoboard members elected by the employees, but no EWC.


- 61 -

References:Internal sourceSupplement of the Official Journal 2006/S87-01210



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 One -tier structure: board of directors.

- 62 -

Netcon EZHZ, SEOfficial homepage: ØBranch: ØStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 26-05-2006, Bratislava (Slovakia)Seat before SE: ØSeat of SE: Bratislava (Slovakia)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: -ØComments: ØLast update: 18-03-2007References:Supplement of the Official Journal 2007/S 39-046884




- 63 -

Nordic Tube SEOfficial homepage: ØBranch: Shelf company3

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 31-01-2007, Halmstad (Sweden)Seat before SE: ØSeat of SE: Halmstad (Sweden)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


No employees


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: -ØComments: ØLast update: 27.04.07References:Internal Sources




- 64 -

PCC SEOfficial homepage: www.pcc.deBranch: Chemicals and energyStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 05-02-2007, Duisburg (Germany)Seat before SE: ØSeat of SE: Duisburg (Germany)Form of establishment: ConversionCompanies concerned: ØCorporate governancestructure before SE:

Two-tier3


One-tier4


29

Countries of operation: 17 countriesCountries concerned: Czech Republic (33), Finland (3), Germany (136), Latvia, Poland

(3581) and Slovakia (3) (in total 3,756 employees concerned)National trade unionsinvolved:

Ø


Ø

EWC formerly existed: ØEstablishment of SNB: YesBoard-level employeerepresentation before SEfoundation:

Ø

Distribution of SNB seats: 15 members: 10 Poland, 1 each Czech Republic, Finland, Germany,Latvia and Slovakia

Content of agreement: - Negotiations took place on 16-11-2006 in Wroclaw (Poland) withthe Polish and German SNB members present; the other 4 SNBmembers did not participate in the meeting

- Information and consultation rights were agreedMotives: - Conforms with the European identity of the company, its

employees and its clients (more than 50% of consolidatedturnover is generated outside Germany)

- Improvement of social and cultural position in Europe and beyondComments: ØLast update: 08-06-2007References:PCC SE (2007) PCC goes European – PCC AG becomes PCC SE. Press release from February

2007. Available from:http://www.pcc.de/ttw/pcc.nsf/id/EN_PCC_goes_European?OpenDocument&ccm=050010&l=EN[Accessed 08-06-2007]

Company homepageSupplement of the Official Journal 2007/S 51-062395




- 65 -

Plansee SE

Official homepage: www.plansee.com Branch: Manufacturer of powder metallurgical products and componentsStatus: EstablishedAnnounced intention on1: 19-12-2005Official process initiated on2: 19-12-2005Registered on/in: 11-02-2006, Innsbruck (Austria)Seat before SE: Reutte (Austria)Seat of SE: Reutte (Austria)Form of establishment: ConversionCompanies concerned: Plansee AG (Austria), Plansee Metall Gmbh (Austria), Cime Bocuze

SA (France), Societé Plansee SARL (France), Plansee Metals Ltd(UK), Plansee Nordic AB (Sweden)


Two-tier3


One-tier4


2,200

Countries of operation: Austria, Brazil, Bulgaria, China, France, Germany, India, Japan,Korea, Netherlands, Sweden, Switzerland, Taiwan, UK and USA

Countries concerned: Austria (1,333), France (76), Sweden (2), UK (11) (in total 1,422)National trade unionsinvolved:

GPA, GMT, as well as Chamber of Labour Vienna


No

EWC formerly existed: NoEstablishment of SNB: In accordance with the law Board-level employeerepresentation before SEfoundation:

Yes

Distribution of SNB seats: 14 members: 10 from Austria, 2 from France, 1 each from Swedenand UK

Content of agreement: Signed 30-01-2006Information and Consultation:-An SE works council is established when an employeerepresentative body representing more than 1,000 employeesdemands it; only bodies representing more than 150 employees areentitled to nominate members of the SE works council; employeerepresentatives representing at least 50 employees are entitled tonominate a guest member to the SE works councilParticipation:-1/3 of the members of the board of directors (2 out of 5) arenominated by the Austrian works council until a SE Works Council isestablishedStructural changes:-considerable structural changes are changes that involve parts of thegroup that employee at least 500 employees in total;-in case of changes in the company structure that affect the interestsof employees to a considerable extent in respect of employeeinvolvement, the board of directors, on its own initiative or at therequest of either 10% of the employees or employee representativesrepresenting at least 10% of the workforce, must convene the SNBExpenses:-All expenses are covered by the company.Expiry date:-The agreement expires in 10 years and is extended for another 4years repeatedly unless notice is given in writing 6 months prior to thefirst expiration of the agreement.

Motives: -Simplification of legal structure

- 66 -

Comments: Employees in France, Sweden and the UK were invited, but did nottake part in the negotiations themselves, authorising the Austrianworks councillor of the metal workers to represent their interests atthe meeting of the SNB in January; as a consequence the SNBconsisted only of members from Austria.

Last update: 08-08-2006References:Company homepage



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a Holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board.4 One -tier structure: board of directors.

- 67 -

Prosafe SE

Official homepage: http://www.prosafe.no/Branch: Oil and gas (submersible service rigs, floating production and storage

vessels)Status: EstablishedAnnounced intention on1: 17-11-2006Official process initiated on2: ØRegistered on/in: 02-02-2007, Brønnøysund (Norway)Seat before SE: Stavanger (Norway)Seat of SE: Stavanger (Norway)Form of establishment: Conversion Companies concerned: Prosafe ASACorporate governancestructure before SE:

One-tier3


One-tier3


1,000 including subsidiaries

Countries of operation: 15 (all parts of the world)Countries concerned: Norway (10), UK (Scotland, 45)National trade unionsinvolved:

No


No

EWC formerly existed: NoEstablishment of SNB: Yes. Nomination period: 1 month

Board-level employeerepresentation before SEfoundation:

No (but a large part of Prosafe (more than 800 employees) was solda few years ago, before the sale the employees were represented atboard-level in Prosafe

Distribution of SNB seats: 3 to the Norwegians, 3 to the Scots

- 68 -

Content of agreement: Signed on 26-01-2007 (1 month negotiation period)Information and consultation through an Employee Council:- Composition: 4 members (2 UK, 2 Norway)- Must be employees of the companies concerned- Members are nominated and elected by the employees- Quarterly reports from the management- Immediate information in case of extraordinary events- 1 meeting/yearParticipation in the Board of Directors:- More than half of the employees may demand the election of

employee reps, if …� The company has more than 30 employees: 1 member,

1 observer� The company has more than 50 employees: one-third (at

least 2)� The company has more than 200 employees: 1 member,

2 observerSignificant operational/legal changes:- Such as transfer of seat- Written notice to call for renegotiationsExpenses:- Related expenses and expenses for legal advice or experts are

covered by the companyExpiry date:- 6 months after registration- renewal on the basis of mutual agreement by both partiesThe agreements state the right to information and consultation, but noparticipation. This represents an improvement on UK regulations butalso on the Norwegian ones as 10 employees in companies withoutany trade union are not covered by the information and consultationright in the Work Environmental Act.

Motives: The rationale for the transformation is to achieve flexibility withregards to the country of seat.

The board of directors has based the resolution on the following: •Three quarters of the company’s shareholders are non-Norwegians•Prosafe ASA is today a holding company for the subsidiariesdomiciled and operating in other countries•The group has limited operations in Norway

(Press release 17 Nov 2006)

The company has already announced its decision to move thecompany to Cyprus. When asked why they bothered to set up an SE-company prior to the relocation, the management emphasised thefact that relocation of an SE is easy. The reason for moving to Cyprusis connected to the Norwegian tax regime.

- 69 -

Comments: The employee representative emphasised that the difficulties relatedto “figuring out” the different provisions and regulations concerningemployee involvement and not the agreements as such or thecollaboration with management.

The negotiators did not experience any conflict or attempt to weakenthe employee rights; it was considered a positive process and bothparties wanted to establish employee participation and useparticipation as an important tool. However, the Scots needed someexplanation concerning foundation and the goals of participation andgetting a “proper” grip on the whole issue. Cultural differencesbetween the Norwegian and Scottish employees were – together withprocedural issues – the hard part of the process.

On Prosafe SE: It is a holding company with subsidiaries in a numberof countries outside Norway. These subsidiaries operate oil rigs(housing and service and “floating production”.

Last update: 15-03-2007References:Internal souceSupplement of the Official Journal 2007/S 34-040290




- 70 -

SE Reussite Finances GroupeOfficial homepage: ØBranch: Financial services except insurance and financing of pensionsStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 06-02-2007, Riga (Latvia)Seat before SE: Riga (Latvia)Seat of SE: Riga (Latvia)Form of establishment: ØCompanies concerned: ØCorporate governance structurebefore SE:

Ø


One-tier3


Ø


Ø


Ø





- 71 -

Riga RE - SEOfficial homepage: www.riga-re.comBranch: Financial services and reinsuranceStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 11-08-2006, Riga (Latvia)Seat before SE: Riga (Latvia)Seat of SE: Riga (Latvia)Form of establishment: ConversionCompanies concerned: Joint Stock Company “Riga RE”Corporate governancestructure before SE:

Two-tier3


Two-tier3


28

Countries of operation: Russia, Turkey, Lithuania, Germany, Ireland, United Kingdom,Uzbekistan


Ø


Ø

EWC formerly existed: NoEstablishment of SNB: NoBoard-level employeerepresentation before SEfoundation:

No

Distribution of SNB seats: ØContent of agreement: ØMotives: -To maintain efficiency and have close contact with partnersComments: ØLast update: 08-06-2007References:Internal SourceSupplement of the Official Journal 2006/S208-221009



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two -tier structure: management board and supervisory board.

- 72 -

RPG Industries SEOfficial homepage: www.neocleous.comBranch: Industrial investment groupStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 03-08-2006, Ø (Cyprus)Seat before SE: n/aSeat of SE: Limassol (Cyprus)Form of establishment: Merger-SECompanies concerned: ØCorporate governance structurebefore SE:

n/a


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: -Streamlining holding and operating structures

-Keeping holdings and operations simple-Delivering greater transparency and value to partners andinvestors

Comments: ØLast update: 27.04.07References:RPG (2006) RPG established as a Societas Europaea. Press release on 04-08-2006. Available from:http://www.neocleous.com/assets/mainmenu/715/editor/RPG%20established%20as%20a%20Societas%20Europaea.pdf [Accessed 08-11-2006]Supplement of the Official Journal 2007/S 61-074067




- 73 -

SE Sampo Life Insurance BalticOfficial homepage: www.sampo.comBranch: Insurance companyStatus: EstablishedAnnounced intention on1: 21-12-2005Official process initiated on2: ØRegistered on/in: 02-01-2007Seat before SE: Tallinn (Estonia)Seat of SE: Tallinn (Estonia)Form of establishment: ConversionCompanies concerned: AS Sampo Elukindlustus (AAS Sampo Dziviba and UAB Sampo

gyvybes draudimas will be merged into this company, which will thenbe converted into SE Sampo Life Baltic)


One-tier3


One-tier3


Ø

Countries of operation: EstoniaCountries concerned: Estonia, Latvia, LithuaniaNational trade unionsinvolved:

Ø


Ø

EWC formerly existed: n/aEstablishment of SNB: Details of the establishment itself were not available

The company indicated that they held a kind of a general meeting foremployees which is similar to the holding of a general meeting ofshareholders. The procedure allowed free nomination of candidates,established a quorum requirement and a sufficient votes requirementfor achieving adequate representation of employees, etc.

Board-level employeerepresentation before SEfoundation:

Ø

Distribution of SNB seats: ØContent of agreement: The special negotiating body had one meeting in Riga in September

2006. During the meeting, which lasted several hours representativesof the employer explained to the members the nature of employeeinvolvement. Thereafter the members discussed the matter amongthemselves and decided unanimously that it was unnecessary toopen negotiations.

Motives: -Simplification and strengthening of the structure of Baltic lifeinsurance operations-Improved efficiency

Comments: Remark from the management: it is known that application of theparticipation right is not mandatory in Estonia, Latvia and Lithuania.As the right to information and consultation is governed by other acts(implementation of Directive 2002/14/EC of the European Parliamentand of the Council of 11 March 2002 establishing a generalframework for informing and consulting employees in the EuropeanCommunity (Joint declaration of the European Parliament, theCouncil and the Commission on employee representation)), thespecific provisions regarding SEs do not give additional guarantees toemployees. Given that the procedure for employee involvement isalso more limited in the cross-border merger directive (and probablythe special negotiating body took that into account when making adecision on the matter in question).


- 74 -

References:Internal sourcesCompany homepageSampo Plc (2005) Sampo Life to combine all its subsidiaries operating in the Baltic countries under

one legal company. Press release from 21-12-2005. Available from: http://domino.sampo.fi/external/tiedotus/tiedotteetnew.nsf/all/0ad6c6055cd9e2c4c22570de00304103?opendocument[Accessed 07-01-2006]





- 75 -

Sarpedon 2006/01 Vermögensverwaltungs SEOfficial homepage: ØBranch: ØStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 14-12-2006, Munich (Germany)Seat before SE: ØSeat of SE: Munich (Germany)Form of establishment: Subsidiary SECompanies concerned: Subsidiary of Beiten Burkhardt EU-Beteiligungen SECorporate governancestructure before SE:

Ø


Two-tier4


No employees


n/a


n/a

EWC formerly existed: ØEstablishment of SNB: n/aBoard-level employeerepresentation before SEfoundation:

n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments: ØLast update: 05-06-2007References:Supplement of the Official Journal 2007/S 9-009002Internal source



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 A shelf company is an „off the shelf“ company, one which has not been set up for a specific purposebut it is available and generally can be bought by anyone who wants it. Some specialist companiesoffer shelf companies to businesses so that they can set up in business very quickly.4 Two-tier structure: management board and supervisory board.

- 76 -

Schering-Plough Clinical Trials SEOfficial homepage: NoneBranch: Pharmaceuticals Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 22-02-2005, London (UK)Seat before SE: n/aSeat of SE: Welwyn Garden City (UK)Form of establishment: Subsidiary-SECompanies concerned: Plough Limited (UK), Chemibiotic Limited (Ireland)Corporate governancestructure before SE:

n/a


One-tier3


No employees

Countries of operation: ØCountries concerned: UK, IrelandNational trade unionsinvolved:

n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: In order to fulfil the registration criteria an employee involvement

declaration was handed in, but without a signature, because thecompany does not have employees.

Motives: The legal entity will form a part of the company's compliance with theEU Clinical Trials Directive, which requires in relevant part that thereto be a legal representative in the EU for clinical trials sponsored inthe EU.

Comments: It’s not intended to have employees.Last update: 20-11-2005References:Internal sourceCompanies House, # SE000001




- 77 -

SCS Europe SEOfficial homepage: ØBranch: Financial ServicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 08-10-2004, Amsterdam (Netherlands)Seat before SE: ØSeat of SE: Amsterdam, NetherlandsForm of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


No employees


n/a


No

EWC formerly existed: NoEstablishment of SNB: n/aBoard-level employeerepresentation before SEfoundation:

No

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments:Last update: 18-10-2006References:Dutch Chamber of Commerce, file number: 34214180




- 78 -

Sevic Systems SEOfficial homepage: www.sevic.deBranch: ElectronicsStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 15-03-2007, Montabaur (Germany)Seat before SE: n/aSeat of SE: Montabaur (Germany)Form of establishment: ConversionCompanies concerned: Sevic AGCorporate governance structurebefore SE:

Two-tier3


One-tier4


No employees

Countries of operation: ØCountries concerned: ØNational trade unions involved: NoEuropean trade union federationsinvolved:

No

EWC formerly existed: NoEstablishment of SNB: ØBoard-level employeerepresentation before SEfoundation:

No

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: - Sevic GmbH first transformed into an AG and then into an SE

- After the AGM had approved transformation into an SE on 21-07-2006, the company was split up (operations wereseparated into Sevic Systems Deutschland GmbH) at anextraordinary AGM 23-08-2006

- Negotiations on employee involvement were planned- The SE is currently acting as a holding without employees

Last update: 08-06-2007References:Supplement of the Official Journal 2007/S 73-088367Internal source:



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board4 One-tier structure: board of directors

- 79 -

Startplattan 39001 SEOfficial homepage: NoneBranch: Shelf company3

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 11-11-2004 Sundsvall (Sweden)Seat before SE: ØSeat of SE: Gothenburg (Sweden)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


No employees


n/a


n/a


n/a


taken concerning employee involvement, works councils, period ofvalidity, composition or scope of the agreement.

Motives: ØComments: In the event of transfer of seat or an increased number of employees,

negotiations on employee involvement shall commence.Last update: 24-05-2006References:Supplement of the Official Journal 2006/S82-085967




- 80 -

Startplattan 39002 SEOfficial homepage: NoneBranch: Shelf company3

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 11-11-2004 in Sundsvall (Sweden)Seat before SE: ØSeat of SE: Gothenburg (Sweden)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


No employees


n/a


n/a


n/a


taken concerning employee involvement, works councils, period ofvalidity, composition or scope of the agreement.

Motives: ØComments: In the event of transfer of seat or an increased number of employees,

negotiations on employee involvement shall commence.Last update: 24-05-2006References:Supplement of the Official Journal 2006/S82-085968




- 81 -

Strabag Bauholding SEOfficial homepage: www.strabag.atBranch: Construction Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 12-10-2004, Klagenfurt (Austria)Seat before SE: Spittal (Austria)Seat of SE: Spittal (Austria)Form of establishment: ConversionCompanies concerned: Strabag Bauholding AGCorporate governancestructure before SE:

Two-tier3


Two-tier3


31,000

Countries of operation4: Austria, Belgium, Bulgaria (387), Croatia, Czech Republic, Germany,Hungary, Italy, The Netherlands, Poland, Romania, Serbia, Slovakia,Slovenia, Switzerland, Ukraine

Countries concerned4: Austria (11,156), Belgium (521), Czech Republic (3,837), Germany(8,539), Hungary (4,208), Italy (18), The Netherlands (38), Poland(2,241), Slovakia (2,032), Slovenia (92) (total 32,682)


No

European trade unionfederation involved:

No

EWC formerly existed: YesEstablishment of SNB: Was not formed prior to registrationBoard-level employeerepresentation before SEfoundation:

Yes (one third of the seats on the supervisory board)

Distribution of SNB seats: 15 members: 4 from Austria, 3 from Germany, 2 each from Hungaryand Czech Republic, 1 each from Belgium, Poland, Slovakia andSlovenia;employees in the Netherlands (38) opted to be represented by theBelgian member; employees in Italy (18) opted to be represented by the Austrianmembers.

- 82 -

Content of agreement: Signed on 04-05-2006The agreement covers all companies of the group in all EFTAcountries and in all countries that are in EU accession negotiations.Information and consultation through an SE Works Council:-Mandate period: 4 years-Composition according to number of employees in the differentoperating countries-Experts may be invited-Elects a Committee that is responsible for the daily affairs of the SEWorks Council, meets at least 2/year-Expenses, communication, translation, interpreting, travel, etc., arecovered by the company-Participation in actual, preparatory or follow-up meetings isconsidered working time-Information and consultation about economic, sanitary or culturalaffairs affecting employees-2 meetings/year-Might agree on re-negotiations with a super-qualified majorityParticipation in the Supervisory Board:-Appointed by the SE Works Council-Have the same right and duties, voting rights and remuneration asthe other members of the supervisory board as according to law orcompany statute-Sworn to confidentialityStructural changes:-This agreement remains untouched in case of a change from a two-tier structure to a one-tier structure-The agreement shall be re-negotiated in case of cross-boarderstructural changes that result in some parts of the group no longerbeing subject to participation.-In case of structural changes as defined in the Austriantransposition, the SE Works Council can decide to renegotiate theagreement.Expenses:-All expenses are covered by the company.Expiry date:-Not specified

Motives: -Creation of European identity-Strengthened economic, social and culture position in the EU-A solid and uniform group structure-Simplification of pan-European activities-Improved efficiency and competitiveness-Cost reduction by a clear and uniform group structure-Legal acceptance EU wide-Easier to attract capital especially for cross-boarder projects-Simplification of cross-boarder mergers, transfer of seat

Comments: SNB was not formed in accordance with the law, negotiations werenot conducted; ‘negotiations’ were conducted with the chair of theEWC; result: one-third of the members of the supervisory board areemployee representatives (corresponds with the legal requirements inAustria regarding participation in public limited companies); however,these seats are only taken by Austrian employee representatives;German IG Bau, the Belgian Conseil d’enterprise Strabag, theBelgian ACV-bouven Industrie and the ÖsterreichischeBundesarbeitskammer have brought in a claim against theregistration; (for details see report 15-11-2004)In negotiations the parties involved agreed on commencingnegotiations on employee involvement. Then an SNB wasestablished and the agreement was signed on 04-05-2006. Duringthis time the case against registration was dormant and waswithdrawn immediately after agreement was reached.


- 83 -

References:Austrian commercial registerPohl, Martin (2005) Mitbestimmung der Arbeitnehmer ‘übersehen’. Die Mitbestimmung. Available

from: www.boeckler.de/cps/rde/xchg/SI-3D0AB75D-26A583C9/hbs/hs.xsl/107_36311.html[Accessed 01/08/2005]

Bauindustrie: Strabag will an die Spitze. Die Presse, 13-10-2004. Available from:www.diepresse.com/textversion_article.aspx?id=447050 [Accessed 15-10-2004]

Zeiner, Christine (2004) Österreichische Strabag ist erste ‘Europa AG’. Wiener Zeitung, 13-10-2004. Bauholding Strabag wird Vorreiter für die Europa AG – Ergebnis wenigstens auf Vorjahresniveau.

Kurier. 13-10-2004. Available from:www.kurier.at/zeitung/wirtschaft/WM/index.php?artikel=765478, [Accessed 15-10-2004]

Bauholding Strabag wird erste Europäische Gesellschaft (Societas Europaea, kurz SE) in Österreich.Press release 12-10-2004. Available from: www.strabag.at [Accessed 15-10-2004]

Internal sources



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board.4 Number of employees available from EWC database 2004 published by ETUI-REHS.

- 84 -

Sunshine-Invest SEOfficial homepage: ØBranch: Real estate and investment servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 10-10-2005, Brussels (Belgium)Seat before SE: n/aSeat of SE: Brussels (Belgium)Form of establishment: MergerCompanies concerned: Platzer Consulting (Austria), DI Dieter Eigner EU (Austria), DIO.U.11

KFT – Real Estate (Hungary), Dafra SRL (Italy), Peter WieslerLifestyle Gmbh (Austria), Hancock Pennsylvania Finance Services(Belgium), Gerson (Belgium)


n/a


Two-tier3


Ø


Ø


Ø


n/a

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments:Last update: 18-03-2006References:Supplement of the Official Journal 2005/S 243-239128




- 85 -

Tchibo Beteiligunsinvest SEOfficial homepage: ØBranch: ØStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 14-12-2006, Vienna (Austria)Seat before SE: ØSeat of SE: Vienna (Austria)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Two-tier3


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: Newly founded SE?Last update: 18-03-2007References:Internal source




- 86 -

TCN Urop SEOfficial homepage: http://www.tcnpp.com/corp/ukBranch: Holding & Trust CompanyStatus: EstablishedAnnounced intention on1: 2005 Annual ReportOfficial process initiated on2: ØRegistered on/in: 22-12-2006, Utrecht (Netherlands)Seat before SE: Ø (Netherlands)Seat of SE: Utrecht (Netherlands)Form of establishment: ConversionCompanies concerned: TCN UROP N.V.Corporate governancestructure before SE:

Ø


Ø


No employees


No


No


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments: ØLast update: 18-03-2007References:Internal sourcesDutch Chamber of Commerce, file number: 30148126Company homepage




- 87 -

Tourism Real Estate Property Holding SEOfficial homepage: ØBranch: Real estate construction servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 29-09-2005, Rotterdam (Netherlands)Seat before SE: ØSeat of SE: Rotterdam (Netherlands)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments:Last update: 07-04-2006References:Supplement of the Official Journal: 2006/S 65-067030Dutch Chamber of Commerce, file number: 24383734




- 88 -

Tourism Real Estate Services Holding SEOfficial homepage: ØBranch: Real estate servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 29-09-2005, Rotterdam (Netherlands)Seat before SE: ØSeat of SE: Rotterdam (Netherlands)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments:Last update: 18-10-2006References:Supplement of the Official Journal: 2006/S 66-067994Dutch Chamber of Commerce, file number: 24383733




- 89 -

SE TradeCom FinanzinvestOfficial homepage: http://www.tradecomag.com/ Branch: Financial servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: 27-10-2005Registered on/in: 31-12-2005, Wels (Austria)Seat before SE: Wels (Austria)Seat of SE: Wels (Austria)Form of establishment: ConversionCompanies concerned: TradeCom AGCorporate governancestructure before SE:

Two-tier3


One-tier4


Ø

Countries of operation: Austria, Luxembourg, Switzerland, USCountries concerned: Austria (3)National trade unionsinvolved:

No


No

EWC formerly existed: NoEstablishment of SNB: YesBoard-level employeerepresentation before SEfoundation:

No

Distribution of SNB seats: All employees (in total three) participated in the negotiationsContent of agreement: The SNB took the decision to terminate negotiationsMotives: -ØComments: The SNB decided to terminate negotiations because the

establishment of an SE works council appears to be unnecessary forthe employees. This is due to the fact that domestic and foreignsubsidiaries do not and will not have employees and consequentlyonly Austrian employees would be beneficiaries, and they are alreadycovered by the Austrian Labour Constitution Act.

Last update: 07-04-2006References:Company homepageAustrian commercial registerSupplement of the Official Journal 2006/S 26-028053



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a Holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board.4 One-tier: structure: board of directors.

- 90 -

Viel et Compagnie-Finance - SEOfficial homepage: ØBranch: Financial services Status: Established Announced intention on1: ØOfficial process initiated on2: ØRegistered on/in: Ø, Paris (France)Seat before SE: ØSeat of SE: Paris (France)Form of establishment: ØCompanies concerned: ØCorporate governance structurebefore SE:

Ø


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: -ØMotives: -ØComments: -iLast update: 15-10-2006References:Supplement of the OJ 2006/S 197-208614


Ø … information not available1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.

- 91 -

World-Wide-Invest SEOfficial homepage: ØBranch: Shelf company3


Ø


One-tier4


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments: ØLast update: 28-05-2007References:Supplement of the Official Journal 2006/S 135-143891Internal source



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a Holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 A shelf company is an „off the shelf“ company, one which has not been set up for a specific purposebut it is available and generally can be bought by anyone who wants it. Some specialist companiesoffer shelf companies to businesses so that they can set up in business very quickly.4 One-tier: structure: board of directors.

- 92 -

YSL Beauté Benelux SEOfficial homepage: ØBranch: CosmeticsStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 06-07-2006, Brussels (Belgium)Seat before SE: n/aSeat of SE: Brussels (Belgium)Form of establishment: MergerCompanies concerned: ØCorporate governancestructure before SE:

n/a


Ø


Ø


Ø


Ø


Ø




1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a Holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.

- 93 -

II.Planned SEs


- 94 -

BASF AGOfficial homepage: www.basf.deBranch: ChemicalsStatus: PlannedAnnounced intention on1: 27-02-2007Official process initiated on2: ØRegistered on/in: Expected 01/2008, Ø (Germany)Seat before SE: Ludwigshafen (Germany)Seat of SE: Expected Ludwigshafen (Germany)Form of establishment: ConversionCompanies concerned: BASF AGCorporate governancestructure before SE:

Two-tier3


Two-tier3


Ca. 80,500

Countries of operation: GloballyCountries concerned: Ø (56,000 employees in Europe)National trade unionsinvolved:

Ø


Ø


Yes (codetermination: 6 out of 12 members of the supervisory boardare employee representatives)

Distribution of SNB seats: 31 members: 8 Germany, ØContent of agreement: ØMotives: -SE is a modern and contemporary legal form of company

-Number of 12 members of the supervisory board can be kept-Quality of employee involvement is retained-Integration of European employees in participation

Comments: Timeline:-Annual General Meeting of shareholders on 26 April approved thetransformation into an SE-Start of negotiations with employees in June (provided shareholdersagree to the conversion)-Registration January 2008

Last update: 18-03-2007References:BASF (2007) BASF strebt Umwandlung der Rechtsform in eine Europäische Gesellschaft (SE) an

Available at: http://corporate.basf.com/de/presse/mitteilungen/pm.htm?pmid=2588&n=10&id=XIt0xA9CDbcp4Ch [accessed 28-02-2007)

Company homepage




- 95 -

Fresenius AGOfficial homepage: www.fresenius.deBranch: Medical careStatus: PlannedAnnounced intention on1: 11-10-2006Official process initiated on2: ØRegistered on/in: Expected in 2007, Ø (Germany)Seat before SE: Bad Homburg (Germany)Seat of SE: Expected Bad Homburg (Germany)Form of establishment: ConversionCompanies concerned: Fresenius AGCorporate governancestructure before SE:

Two-tier3


Two-tier3


Ca. 100,000

Countries of operation: China, Germany, Italy, Japan, Sweden, South Africa, USA/MexicoCountries concerned: ØNational trade unionsinvolved:

Verdi (D), IGBCE (D)


Ø


Yes (codetermination: 6 out of 12 members of the supervisory boardare employee representatives)

Distribution of SNB seats: ØContent of agreement: ØMotives: -Part of the broader company strategy

-Reflects the increasing internationalisation of the company and atthe same time provides a reliable corporate governance structure-Supports the emergence of an open and internationally orientedcompany culture-Europeanised employee participation

Comments: The conversion plan was proposed to the shareholders at anextraordinary shareholders’ meeting on 04-12-2006. Theshareholders agreed to the transformation by a majority

Last update: 07-01-2007References:Fresenius AG (2006) Hauptversammlung stimmt Umwandlung der Fresenius AG in eine Europäische

Gesellschaft (SE) und Aktiensplit mit großer Mehrheit zu. Available from:http://www.fresenius.de/internet/fag/de/faginpub.nsf/Content/P-Info+2006+12+04 [Accessed 05-12-2006]

Oberhauser-Aslan, Heide (2006) Fresenius-HV beschließt Umwandlung in Europa AG. Availablefrom: http://www.faz.net/d/invest/meldung.aspx?id=37504244 [Accessed 05-12-2006]

Fresenius AG (2006) Fresenius plant Umwandlung der Fresenius AG in eine EuropäischeGesellschaft (SE) und Aktiensplit. Press release of 11-10-2006. Available from:http://www.fresenius.de/internet/fag/de/faginpub.nsf/AttachmentsByTitle/I-News+2006+10+11/$FILE/SE_d.pdf [Accessed 15-10-2006]

Company homepage


Ø … information not available1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board.

- 96 -

Mensch und Maschine Software AGOfficial homepage: www.mum.deBranch: ITStatus: PlannedAnnounced intention on1: 02-11-2005Official process initiated on2: 10-04-2006Registered on/in: Expected in 01-2007, Ø (Germany)Seat before SE: Wessling (Germany)Seat of SE: Wessling (Germany)Form of establishment: ConversionCompanies concerned: Mensch und Maschine Software AGCorporate governancestructure before SE:

Two-tier3


One-tier4


350

Countries of operation: Austria, Belgium, France, Germany, Italy, Japan, Poland, Singapore,Sweden, Switzerland, United Kingdom; US

Countries concerned: Germany, ØNational trade unionsinvolved:

No


No

EWC formerly existed: NoEstablishment of SNB: ØBoard-level employeerepresentation before SEfoundation:

No

Distribution of SNB seats: ØContent of agreement: ØMotives: -The company sees itself as the very model of an SE with

international sales of more than 70% and companies in 7 EU states,plus Sweden and Switzerland.-Implementation of the one-tier structure-Streamlining of the management structure (reduction from 9 to 7seats)-Simplification of legal and organisational structure-Simplification of operational business

Comments: The conversion plan of 10 April 2006 was presented to theshareholders at the last annual general meeting on 30 May 2006. Theshareholders agreed to the conversion. It shall be effectiveretroactively from 1 January 2006.According to the conversion plan the management informed theemployees about its intention to transform the company into an SEand asked the employees to set up an SNB.Recently, two shareholders opposed the plan and went to the civilcourt in Munich, so the plans have been halted for the time being.

Last update: 29-09-2006References:Company homepageMensch und Maschine Software AG (2006) Einladung Hauptversammlung – 30. Mai 2006. Available

from: http://www.mum.de/mum/investor/pdf/MuM%20HV2006.pdf [Accessed 19-07-2006]A mid size company takes the lead – Mensch und Maschine goes European SE. Company News, 02-

11-2005. Available from: http://www.mum.de/mum/startframe.asp?contentpage=/mum/investor/corporate_governance.asp [Accessed 25-11-2005]

Mensch und Maschine Software AG (2005) Q3/2005 – Quarterly Report. Available from:http://www.mum.de/mum/download/Berichte/MuMQ305.pdf [Accessed 25-11-2005]


- 97 -



- 98 -

Nordea Bank AB (publ)Official homepage: www.nordea.comBranch: Banking Status: PlannedAnnounced intention on1: 19-06-2003Official process initiated on2: ØRegistered on/in: ØSeat before SE: Stockholm (Sweden)Seat of SE: Expected in Stockholm (Sweden)Form of establishment: MergerCompanies concerned: Nordea Bank AB (publ), ØCorporate governancestructure before SE:

One-tier3


Expected one-tier3


29,000

Countries of operation4: Belgium, Brazil, China, Denmark, Estonia, Finland, France, Germany,Iran, Latvia, Lithuania, Luxembourg, Norway, Poland (502), Russia,Singapore, Spain, Sweden, Switzerland, UK, US

Countries concerned: Denmark, Finland, Norway, SwedenNational trade unionsinvolved:

NFU


Ø

EWC formerly existed: ØEstablishment of SNB: Was formed properlyBoard-level employeerepresentation before SEfoundation:

Yes (three of the 15 members of the board of directors representingthe four Nordic countries)

Distribution of SNB seats: ØContent of agreement: ØMotives: -Improved operational efficiency

-Reduced operational risk-Enhanced capital efficiency-Reduction of complexity by a simplification of the legal structure-Good legal vehicle for a across-border group

Comments: -Issues: four different sets of legislation, supervised by four differentregulatory systems and financial supervisory authorities (for example,deposit guarantee schemes), issue of VAT on intercompanytransactions


- 99 -

References:Company homepageHaug, Liv Irene (2005) Nordea Board. Presentation at the conference ‘Arbeitnehmervertreter im

Board’ of Hans-Böckler-Foundation from 2.-3. February 2005. Available from:http://www.boeckler.de/pdf/v_2005020203_untmb_haug.pdf [Accessed 01-08-2005]

Bibby, Andrew (2004) The European Company (SE) and Nordea. Available from:www.andrewbibby.com/socialpartners/societaseuropaea.html [Accessed 26-12-2005]

NFU (Nordiska Finansanställdas Union) (2004) Nordea SE Project – Content. Available from :http://www.nfufinance.org/Resource.phx/plaza/nordea/nordea.htx

Nordea Bank AB (2004) Pioneering the move towards a European Company. Press release from 23-06-2004. Available from: http://hugin.info/1151/R/950117/134554.pdf [Accessed 30-06-2004]Download available

Nordea Bank AB (2004) Nordea takes next step in simplifying legal structure. Press release from 30-01-2004. Available from: http://hugin.info/1151/R/932404/128096.pdf [Accessed 02-02-2004]Download available

Nordea Bank AB (2003) Extraordinary General Meeting of Nordea AB (publ) in legal structure changeprocess. Press release from 20-08-2003. Available from: http://reports.huginonline.com/914516/121954.pdf [Accessed 01-09-2003] Download available

Nordea Bank AB (2003) Nordea reduces complexity in its legal structure by forming one Europeancompany. Press release from 19-06-2003. Available from: http://reports.huginonline.com/908496/119620.pdf [Accessed 01-09-2003] Download available



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 One -tier structure: board of directors.4 Number of employees available from EWC database 2004 published by ETUI-REHS.

- 100 -

Odfjell ASAOfficial homepage: www.odfjell.asaBranch: Shipping (transportation and storage of bulk liquid chemicals, acids,

edible oils and other special products)Status: PlannedAnnounced intention on1: 14-03-2007Official process initiated on2: 06-03-2007Registered on/in: Expected in 2007, in Bergen (Norway)Seat before SE: Bergen (Norway)Seat of SE: Bergen (Norway)Form of establishment: Conversion Companies concerned: Odfjell ASACorporate governancestructure before SE:

One-tier


One-tier


3500

Countries of operation: Terminals in Canada, US, Holland, Brazil, Argentina, Singapore,China, Japan

Countries concerned: UK, Netherlands, NorwayNational trade unionsinvolved:

No trade unions


No

EWC formerly existed: No Establishment of SNB: In progressBoard-level employeerepresentation before SEfoundation:

No – due to the fact that shipping is not covered by the ER legislationin Norway

Distribution of SNB seats: 1 in UK, 1 in Holland, 7 in Norway (to be elected shortly, allemployees to vote)

Content of agreement: The process is said to take approx. 6 monthsMotives: The Board of Directors has based the proposal upon the following

facts: - About 75% of the company's shareholders are non-Norwegians- Odfjell ASA is today a holding company for the subsidiariesdomiciled and operating in other countries- Most of the group's assets are owned outside Norway.

Comments: In progress - decision to convert made at Annual General Meeting on3 May 2007; plan to register as an SE in Brønnøysund during thenext 6 months.Odfjell wants to be able to transfer its seat to another country ifnecessary due to changes in the Norwegian tax regime. The status ofSE company is thus considered to increase company flexibility.

Last update: 06-05-2007References:Company’s Press officerOdjfell ASA (2007) Transformation to an SE Company. Available from:

http://www.odfjell.com/internet/annualreport/odfjell2006/index.asp?cid=p3&mid=s306&pid=dirtransformation [Accessed 30-03-2007]


Ø … information not available1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 One-tier structure: board of directors.

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Dr. Ing. h.c. F. Porsche AGOfficial homepage: www.porsche.comBranch: AutomobileStatus: PlannedAnnounced intention on1: 24-03-2007Official process initiated on2: ØRegistered on/in: Expected in 2007, Stuttgart (Germany)Seat before SE: Stuttgart (Germany)Seat of SE: Area of Stuttgart (Germany)Form of establishment: Conversion of the holding into Porsche Automobil Holding SECompanies concerned: Porsche AutomobilCorporate governancestructure before SE:

Two-tier3


Two-tier3


11,500


Yes


Ø


Yes (half of the members of the supervisory board are employeerepresentatives)

Distribution of SNB seats: ØContent of agreement: ØMotives: -Number of members of the supervisory board remains at 12

-Before foundation of the SE a new holding structure shall be put inplace: operative and non-operative businesses shall be separated,with the operative (premium car) business keeping the name Dr. Ing.h.c. F. Porsche AG and the non-operative (mostly investmentmanagement) business being the holding company-This holding company shall then be converted into an SE

Comments: AGM on 26 June 2007Last update: 08-06-2007

Porsche stockt VW-Anteil auf - will aber keine Mehrheit (2007) Available from: http://www.manager-magazin.de/unternehmen/vwdnews/0,2828,ticker-26987007,00.html [Accessed 26-03-2007]

Porsche (2007) Porsche Supervisory Board approves increase of stake in Volkswagen - Company tobecome a European stock corporation. Press release 24-03-2007. Available from:http://www.porsche.com/international/aboutporsche/ pressreleases/ ?pool=international-de&id=2007- 03-24 [Accessed 30-03-2007]

Internal source




- 102 -

SCOR GroupOfficial homepage: www.scor.comBranch: ReinsuranceStatus: PlannedAnnounced intention on1: 04-07-2006Official process initiated on2: 05-07-2006Registered on/in: Expected in 2006, Nanterre (France)Seat before SE: Puteaux (France)Seat of SE: Ø (France)Form of establishment: ConversionCompanies concerned: SCOR SA (Scor SE), SCOR Global P&C SA (SCOR Global P&C SE)

and SCOR Global Life SA (SCOR Global Life SE )Corporate governancestructure before SE:

One-tier3


One-tier3


994

Countries of operation: 18 countriesCountries concerned: Ø (706 employees concerned)National trade unionsinvolved:

Ø


Ø

EWC formerly existed: ØEstablishment of SNB: YesBoard-level employeerepresentation before SEfoundation:

Yes: 1 out of 15 directors is an elected employee director

Distribution of SNB seats: The negotiating process concerning employee involvement in thefuture SEs began in July 2006 with the constitution of the three SNBs,uniting employee representatives from each of the Group's entitieslocated in the European Union. The SNBs met eight times beginningon 6 July 2006 in order to reach an agreement on employeeinvolvement in the future SEs, that is, employee rights relating toinformation, consultation and participation. Following the acquisitionof Revios in November 2006, the composition of the SNBs wasmodified in January 2007 to incorporate the employeerepresentatives from Revios entities located in the European Union.

Content of agreement: Signed on 14-05-2007Information and consultation through a Common EuropeanCompanies Committee (CCSE):-Composition: 19 members - 11 for SCOR Global Life SE, 6 forSCOR Global P&C SE and 2 for SCOR SE.-The CCSE has certain prerogatives in terms of information andconsultation: it is informed of the general situation, the economic andfinancial outlook and the developments within each SE. It is consultedon all planned measures considerably affecting the interests ofemployees in several EU countries.-Meets at least once every quarter, i.e. four times a year. Oneextraordinary meeting a year may be requested by the members ofthe CCSE or by the Management.-Operating costs are covered by the company.Participation:-One director with the right to discuss and vote elected by Groupemployees around the world and appointed by the General Meetingfor a mandate period of 2 years.-One European representative with the right of discussion only,appointed by the members of the CCSE for a period of 2 years.

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Motives: -Strengthens the multinational and European identity of the company-Facilitates acquisition transactions in Europe-Improves the group’s financial flexibility-Increases the group’s flexibility with regard to capital allocation

Comments: -All three parent companies of the SCOR Group will be converted intoSEs, but will have only one body for employee representation

Last update: 08-06-2007References:Company homepageSCOR is the first listed French company to form a Common European Companies Committee. (2007)

Available from: http://www.marketwire.com/mw/release_html_b1?release_id=252524 [Accessed21-05-2007]

SCOR SA (2006) SCOR becomes the first French listed company to constitute itself as a SocietasEuropaea. Press release from 04-07-2006. Available from:http://www.scor.com/www/index.php?id=36&L=2&showart=406 [Accessed 06-10-2006]




- 104 -

Suez SAOfficial homepage: www.suez.com Branch: Industrial/services group (electricity, water, waste)Status: PlannedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: Expected in 2006, Paris (France)Seat before SE: Paris (France)Seat of SE: Expected in Paris (France)Form of establishment: Ø (transformation or merger?)Companies concerned: Suez SACorporate governancestructure before SE:

One-tier3


One-tier3


160,700

Countries of operation: Belgium, Brazil, Czech Republic, France, Germany, Italy,Luxembourg, Netherlands, Poland, Sweden, Slovakia, Spain, UK

Countries concerned: France (X), Germany (X), Spain (X), UK (X), ØNational trade unionsinvolved:

Ø


EPSU

EWC formerly existed: YesEstablishment of SNB: ØBoard-level employeerepresentation before SEfoundation:

Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: -Comments: -Although there are plans for a merger between Suez and Gaz de

France, Suez is still willing to establish an SE-Belgian worker representatives support the establishment of an SE-Issue: dispersed ownership-EPSU: observing very closely-Information/consultation is expected, maybe even participation rights(1/3 of seats on the board)

Last update: 18-03-2006References:Company homepageJenkins, Patrick and Buck, Tobias (2005) On the move: Why European companies may see benefits

in a corporate statute with fewer limitations. Financial Times (UK) from 11-10-2005.




- 105 -

Suomi Mutual Life Assurance CompanyOfficial homepage: www.seesamlife.lvBranch: Insurance companyStatus: PlannedAnnounced intention on1: 24-08-2006Official process initiated on2: ØRegistered on/in: Expected in 2007, Ø (Estonia)Seat before SE: n/aSeat of SE: Expected in Ø (Estonia)Form of establishment: MergerCompanies concerned: Seesam Life Insurance Company Ltd. (Estonia), JSLIC Seesam Life

Latvia (Latvia), JSLIC Seesam Life Lithuania (Lithuania) and FinLifeS.A. (Poland). The place of registration of the new SE will be Estonia.


Ø


Ø


Ø

Countries of operation:Countries concerned: Estonia, Latvia, Lithuania, PolandNational trade unionsinvolved:

Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: -Improved efficiency by uniform internal processes and IT systems

-Stronger competitive position for life insurance services in the Balticsand Poland-Improved capitalisation of know-how and experience gained indifferent countries resulting in added value for customers

Comments: -Expected to be named FinLife SELast update: 07-01-2007References:Company homepageSeesam (2006) The subsidiaries of Suomi Mutual go European. Available from:http://www.seesamlife.lv/en/jaunumi/goeuropean/ [Accessed 07-01-2007]




- 106 -

Surteco AGOfficial homepage: www.surteco.comBranch: Paper/plastics industryStatus: PlannedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: Expected in 09/2007, Augsburg (Germany)Seat before SE: Augsburg (Germany)Seat of SE: ØForm of establishment: ConversionCompanies concerned: Surteco AGCorporate governancestructure before SE:

Two-tier3


Expected two-tier3


2,109

Countries of operation: Germany, Canada, US, Australia, UK, Italy, Indonesia, Poland,Singapore, China


Ø


Ø


1/3 of the members of the supervisory board are employeerepresentatives (voluntarily)

Distribution of SNB seats: UK: 1, Italy: 1; Poland: 1, Germany: 10Content of agreement: Signed on: February 2007

Information and consultation through SE Works Council:-At least one member/country of operation-Currently: 6 members (Germany: 3, UK: 1, Italy: 1, Poland:1)-Need to be employees-Term of office: 4 years-Every two years the management examines the composition withregards to representation of all countries of operation in Europe-1 meeting/year (can be more in consultation with the management orat extraordinary circumstances)-Working language: German or English-Strict confidentiality clause-Related expenses are covered by the company-Renegotiations can be commenced after 4 years-Renegotiations in case of structural changes, i.e. only mergers orequity holdings in a holding-SE or a subsidiary-SE that concern 20%of the employees (no structural changes: acquisitions, transfer ofseat, increasing number of employees due to recruitment)Participation in the supervisory board:-3 out 9 members are employee representatives-Are the Chairmen of the works councils in the three Germanestablishments, because they are the establishments with the highestnumber of employees-Need to be employees-Term of office: 4 years-Have the same rights and duties as the shareholder representatives(including remuneration)Agreement does not have an expiration date.The parties concerned agreed that none of them can oppose theagreement or the negotiation procedure

Motives: -ØComments: Ø

- 107 -

Last update: 18-03-2007References:Internal sourcesSurteco AG (2006) Conversion into European Company. Press release on 12-10-2006. Availablefrom:http://sur.surteco.com/index.php/press/press_archiv/2006/conversion_into_a_european_company_se[Accessed 08-11-06]Company homepage



1 The date when the company first made public its interest in founding an SE.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a Holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.3 Two-tier structure: management board and supervisory board.

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III.Announcement of interest in theestablishment of an SE


- 109 -

Company Name Branch Reference/Date

Arcelorwww.arcelor.com

Steel EU regulations: Slow start for European company statute. (2004) EIU ViewsWire from 16-10-2004. Available from:proquest.umi.com/pqdweg?did=759812711&sid=1&Fmt=3&clientIT=17051&RQT=309&Vname=PQD [Accessed26-09-2005]

Braun-Melsungenhttp://www.bbraun.de/

Healthcare Surmann, Klemens (2004) Gründung einer Europa AG – Herausforderung in vielerlei Hinsicht. Available from:www.europolitan.de/cms/?s=ep_dossier&did=19&aid=324& [Accessed 26-12-2005]

Contihttp://www.conti-online.de

Shipbuilding SAP und EADS prüfen die europäische Option (2005) Handelsblatt from 26-09-2005. Available from:www.handelsblatt.com/pshb/fn/relhbi/sfn/cn_artikel_drucken/strucid/200011/pageid/200729/docid/965477/SH/0/depot/0/index.html [Accessed 03-10-2005]

DaimlerChryslerwww.daimlerchrysler.com

Automotive Jenkins, Patrick and Buck, Tobias (2005) On the move: Why European companies may see benefits in a corporatestatute with fewer limitations. Financial Times (UK) from 11-10-2005.

DaimlerChrysler und SAP erwägen Umwandlung n Europa AG (2005) from 07-10-2005. Available from:de.biz.yahoo.com/051007/336/4ptun.html [Accessed 25-10-2005]

SAP und EADS prüfen die europäische Option (2005) Handelsblatt from 26-09-2005. Available from:www.handelsblatt.com/pshb/fn/relhbi/sfn/cn_artikel_drucken/strucid/200011/pageid/200729/docid/965477/SH/0/depot/0/index.html [Accessed 03-10-2005]

Deutsche Bankwww.deutschebank.de

Financial Services Hesse, Martin (2006) Deutsche Bank prüft Zukauf. Süddeutsche Zeitung from 24-03-2006, page 25.

EADSwww.eads.com

Aerospace EU regulations: Slow start for European company statute. (2004) EIU ViewsWire from 16-10-2004. Available from:proquest.umi.com/pqdweg?did=759812711&sid=1&Fmt=3&clientIT=17051&RQT=309&Vname=PQD [Accessed26-09-2005]

SAP und EADS prüfen die europäische Option (2005) Handelsblatt from 26-09-2005. Available from:www.handelsblatt.com/pshb/fn/relhbi/sfn/cn_artikel_drucken/strucid/200011/pageid/200729/docid/965477/SH/0/depot/0/index.html [Accessed 03-10-2005]

Hypo Real Estatehttp://www.hyporealestate.com

Real Estates Berger, Rainer (2005) Die Allianz macht’s – aber wer noch? Available from: www.deutsche-beteiligung.de/files/publikationen/aktuelle_publikationen_-_forum/Societas_Europaea_b6ee721ed6.pdf [Accessed26-12-2005]

Pressespiegel Unternehmen (2005) Vwd Compact from 30-09-2005. Available from:http://www.wiwo.de/pswiwo/fn/ww2/sfn/buildww/cn/cn_wp1_news/id/844/fl/40/fm/0/SH/0/depot/0/wp1_pat/HRX.ETR/wp1_newssort/0/wp1_db/VWD-COMPACT/wp1_docid/RS2005093007120507-00364/wp1_newsos/21/index.html [Accessed 08-11-2005]

Linde AG Energy Noon, Chris (2006) Faces in the News. Linde's Reitzle May Change Incorporation after BOC Deal. Available from:http://www.forbes.com/facesinthenews/2006/03/07/reitzle-linde-boc-cx_cn_0307autofacescan02.html [Accessed31-10-2006]

- 110 -

Mazaars Auditor Financial Times Deutschland 15/02/2005

Neumann Partners GmbHwww.neumannpartners.com

Executive search Johannsen, Arne (2005) Headhunter Neumann wird neue Europa AG. Wirtschaftsblatt No. 2289 from 26-01-2005.

SAPwww.sap.com

IT DPA (2006) SAP bereitet Umwandlung in Europa-AG vor. Available from:www.heise.de/newsticker/meldung/print/70700 [Accessed 11-03-2006]Noack, Ulrich (2005) SE? SE! Available from: www.jura.uni-duesseldorf.de/dozenten/noack/notizen/PermaLink,guid,4402750b-c202-442c-885a-5f53fc93bb1f.aspx [Accessed 26-12-2005]Jenkins, Patrick and Buck, Tobias (2005) On the move: Why European companies may see benefits in a corporate

statute with fewer limitations. Financial Times (UK) from 11-10-2005.Schrader, Martin (2005) Europa AG im Aufwind? dw-world.de from 13-10-2005. Available from: www.dw-

world.de/dw/article/0,5830,178263,00.html [Accessed 26-12-2005]DaimlerChrysler und SAP erwägen Umwandlung n Europa AG (2005) from 07-10-2005. Available from:

de.biz.yahoo.com/051007/336/4ptun.html [Accessed 25-10-2005]SAP und EADS prüfen die europäische Option (2005) Handelsblatt from 26-09-2005. Available from:

www.handelsblatt.com/pshb/fn/relhbi/sfn/cn_artikel_drucken/strucid/200011/pageid/200729/docid/965477/SH/0/depot/0/index.html [Accessed 03-10-2005]

SEBwww.seb-group.com

Financial servicesgroup

EU regulations: Slow start for European company statute. (2004) EIU ViewsWire from 16-10-2004. Available from:proquest.umi.com/pqdweg?did=759812711&sid=1&Fmt=3&clientIT=17051&RQT=309&Vname=PQD [Accessed26-09-2005]

Siemenswww.siemens.de

Technology group Siemens prüft Umwandlung in Europa AG (2007) Available from: http://www.net-tribune.de/article/230407-03.php[Accessed 24-04-07]

Smintairwww.smintair.com

Airline Company homepage: http://smintair.com/INVESTORS/investors.html

TeliaSonerawww.teliasonera.com

Telecommunications EU regulations: Slow start for European company statute. (2004) EIU ViewsWire from 16-10-2004. Available from:proquest.umi.com/pqdweg?did=759812711&sid=1&Fmt=3&clientIT=17051&RQT=309&Vname=PQD [Accessed26-09-2005]

WAZ-Mediengruppewww.waz-gruppe.de

Media Group Meier, Lutz (2005) Dossier Streit der WAZ-Eigner. Financial Times (Deutschland) from 24-10-2005. Available fromwww.ftd.de/tm/me/27374.html?mode=print [Accessed 08-11-2005]

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IV.Renamed Shelf SEs

- 112 -

Atrium Erste Europäische VV SEOfficial homepage: NoneBranch: Shelf company4

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 10-2005, Düsseldorf (Germany)Seat before SE: ØSeat of SE: Ø (Germany)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


One-tier3


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments: Renamed into Convergence SE registered on 31-01-2006 in

Charlottenburg (Germany)Last update: 10-05-2006References:Noack, Ulrich (2005) SE? SE! Available from: www.jura.uni-duesseldorf.de/dozenten/noack/notizen/

PermaLink,guid,4402750b-c202-442c-885a-5f53fc93bb1f.aspx [Accessed 26-12-2005]Foris AG and Foratis AG (2005) Foratis nimmt Handel mit Europäischer Aktiengesellschaft (SE) auf.

Press release from 14-10-2005. Available from: www.foris.de/thema/000075/details.html?id=38[Accessed 30-11-2005]




- 113 -

Atrium Fünfte Europäische VV SEOfficial homepage: NoneBranch: Shelf company3

Status: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 31-01-2006, Düsseldorf (Germany)Seat before SE: ØSeat of SE: Düsseldorf (Germany)Form of establishment: ØCompanies concerned: ØCorporate governancestructure before SE:

Ø


Ø


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments: Renamed into Donata Holding SE registered on 31-01-2006 in

Charlottenburg (Germany)Last update: 10-02-2007References:Supplement of the Official Journal: 2006/S 54-055664




- 114 -

V.Liquidated/Transformed SEs

- 115 -

Europäische Gesellschaft (SE) – Erwerb und Verwaltu ng von VermögenOfficial homepage: ØBranch: Financial servicesStatus: LiquidatedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: 30-06-2005, Munich (Germany)Seat before SE: n/aSeat of SE: Munich (Germany)Form of establishment: MergerCompanies concerned: AZ-Argos 16 AG (Germany), International Reinsurance Company SA

(Luxembourg)Corporate governancestructure before SE:

n/a


Two-tier3


No employees


n/a


n/a


n/a

Distribution of SNB seats: n/aContent of agreement: n/aMotives: ØComments: -International Reinsurance Company SA (Luxembourg) which is an

affiliate of Allianz AG was merged with the SE -Then the SE was merged into Allianz AG (Germany) by merger planof 29-08-2005-In this case, the SE was used as a vehicle to merge the InternationalReinsurance Company SA with Allianz AG – which otherwise wouldhave been problematic, even after the Sevic-Case (ECJ Case C-411/03)

Last update: 07-04-2006References:Supplement of the Official Journal 2005/S 179-177589




- 116 -

Tetra Laval Capital LtdOfficial homepage: ØBranch: Financial servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered as SE on/in: Cayman Islands (registered office at Walker House in George Town)Seat before SE: n/aSeat of SE: Cayman Islands Form of establishment: MergerCompanies concerned: Tetra Laval Capital Luxembourg SA (Luxembourg), Tetra Laval

Capital NV (Netherlands), Tetra Laval Capital SECorporate governancestructure before SE:

n/a


One-tier3


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: -Transfer of seat to Luxembourg (Luxembourg) on 31-10-2005

-Transfer of seat to Cayman Islands (agreement of 07-11-2005)-Registration in Cayman Islands Register on 08-11-2005-The SE regulation does not allow the transfer of seats out of theEuropean Community

Last update: 10-10-2006References:Commercial RegisterSupplement of the Official Journal: 2006/S 1-000002Official Journal Luxemburg Official Journal of the Cayman Islands Issue No. 01/2006 p. 19




- 117 -

Tetra Laval Finance & Treasury Ltd.Official homepage: ØBranch: Financial servicesStatus: EstablishedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered as SE on/in: 20-10-2005, Amsterdam (Netherlands)Seat before SE: n/aSeat of SE: Cayman Islands (registered office at Walker House in George Town)Form of establishment: MergerCompanies concerned: Tetra Laval Finance & Treasury SA (Luxembourg), Tetra Laval

Finance & Treasury NV (Netherlands), Tetra Laval Finance &Treasury SE


n/a


One-tier3


Ø


Ø


Ø


Ø

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: -Only shareholder: Tetra Laval Capital SE

-Transfer of seat to Luxembourg (Luxembourg) on 03-11-2005-Transfer of seat to Cayman Islands (agreement of 08-11-2005)-Registration in Cayman Islands Register on 08-11-2005-The SE regulation does not allow the transfer of seats out of theEuropean Community

Last update: 10-10-2006References:Commercial RegisterSupplement of the Official Journal: 2006/S 1-000003Official Journal LuxemburgOfficial Journal of the Cayman Islands Issue No. 01/2006 p. 19




- 118 -

VI.Failed SEs

- 119 -

Zoll Pool Hafen Hamburg SEOfficial homepage: NoneBranch: Custom clearance for transit containersStatus: FailedAnnounced intention on1: ØOfficial process initiated on2: ØRegistered on/in: Registration was rejected for the second time in autumn 2005.Seat before SE: n/aSeat of SE: Hamburg (Germany)Form of establishment: Subsidiary-SECompanies concerned: ØCorporate governancestructure before SE:

n/a


Ø


Ø


Ø


Ø


n/a

Distribution of SNB seats: ØContent of agreement: ØMotives: ØComments: The management decided to establish a German AG after the 2nd

rejection of the registration. The registration was rejected becausethe company could not present an agreement on the involvement ofemployees, because the company does not have any employees.

Last update: 30-11-2005References:BDI (2004) Neues vom Wirtschaftsrecht (Dez. 2004). Personal e-mail from Norbert Kluge

([email protected]) to Sandra Schwimbersky ([email protected])Mitbestimmung in der Europäischen Aktiengesellschaft (SE) (2004) Available from: http://www.euro-

betriebsrat.de/ebr/115.php [Accessed 08-11-2005]



1 means the date, when the company made public its interest in the foundation of a SE for the firsttime.2 The date when the companies that intend to form an SE publish the draft terms of their merger into anSE or the plan to set up a holding SE or the agreement to form a subsidiary SE or the agreement totransform into an SE.

- 120 -

Documents

SEs in Europe · SEEurope - Worker participation at board level in the European Company (SE) - A project of the European Trade Union Institute (ETUI-REHS) co-funded by the Hans Böckler