Brenntag (WKN A1DAHH), the global market leader in chemical distribution, plans to convert its legal form from a German stock corporation (Aktiengesellschaft, AG) into a European Company (Societas Europaea, SE). This was decided today by the Management Board and the Supervisory Board. Brenntag SE will continue to be headquartered in Essen and will continue to be managed on a dualistic basis by the Management Board and the Supervisory Board. The responsibilities and composition of the two management bodies will remain unaffected by the new structure.
Brenntag's Management Board considers the European Company to be the modern legal form that is in keeping with today's corporate structure. "Brenntag is an international group headquartered in Europe and employing people from over 100 nations, of whom 90 percent work outside Germany," says Chief Executive Officer Steven Holland. "The SE as a supranational legal form stands for our global orientation and identity and the transformation is a consistent step in the further development of our company".
The conversion into an SE is to be submitted to the Brenntag General Shareholders’ Meeting for approval at its ordinary meeting in June 2020. The shareholders of Brenntag AG will automatically become shareholders of Brenntag SE. The conversion does not affect shareholders' rights, financial reporting or the listing of Brenntag shares on the Frankfurt Stock Exchange. Brenntag expects to see the registration in the commercial register and the conversion to take effect in summer 2020.