German commercial broadcast group ProSiebenSat.1 Media AG is to be converted into a European company (Societas Europaea/SE) to facilitate stronger international alignment of its digital business.
In the legal form of the SE, the company will continue to operate with a dualistic system consisting of the executive board and the supervisory board, according to the broadcaster, adding that the conversion will not affect the rights of the employees and the shareholders.
The shareholders’ meeting on May 21, 2015 is to decide on the change in legal form to an SE. It is planned that the conversion will take place in the summer of 2015.
As a result, shareholders of ProSiebenSat.1 Media AG will automatically become shareholders in the future ProSiebenSat.1 Media SE.
The listing of the company’s shares remains unaffected by this measure. The company’s registered office will continue to be in Unterföhring near Munich.
