Brexit prompts reverse merger

A UK company has been absorbed by a European-based subsidiary in an unprecedented move that could be copied by companies with pan-European corporate structures responding to Brexit. The company, Formenta, advised by Silverman Sherliker partner, Liza Zucconi, used EU law to achieve a “reverse cross-border merger”. The need for the merger was driven by the Brexit vote, and a consequent need to simplify pan-European corporate structures. Having set the precedent, Silverman Sherliker is already working on a number of other “reverse mergers”.