Equens Becomes a Societas Europaea
Payment processor Equens has become a Societas Europaea and is now known as Equens SE. This legal form is in line with the company’s ambition to position itself as a truly European player within the European payments market. The new company is the result of the legal mergers of Equens Nederland B.V. and the German Equens Deutschland AG into the holding Equens N.V., followed by the conversion into a Societas Europaea. As a result of the finalised co-determination process associated with the formation of an SE, Equens will establish an SE Works Council and thereby implement an international co-determination regime. The existing two-tier governance structure with supervisory board and board of directors will remain unchanged. The company hopes that the SE conversion will lead to cost savings at an operative level. A Societas Europaea is a legal form under the laws of the European Union. Since the end of 2004, this legal form permits internationally operating companies to transform into European public limited-liability companies, which are governed by a largely uniform European body of law based on an EU directive.