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Proposal to Revise EU FDI Screening Regulation - Revolution or Gradual Evolution?

The proposed revision is ambitious in scope and aims for a greater harmonization of national FDI regimes. On January 24, 2024, the European Commission (EC) adopted five initiatives to strengthen the EU’s economic...more

European Court of Justice Rules on Foreign Direct Investment Screening

The Court’s first decision on FDI screening limits the scope of the EU FDI Screening Regulation and underlines that national regulators must meet a high legal standard to block foreign investments. On July 13, 2023, the...more

German Draft Competition Law Amendment Includes Far Reaching Remedial Powers Absent Actual Infringements

Under the draft law, the FCO could impose behavioural and structural remedies following a sector inquiry without finding an infringement of German or EU competition law. The German Federal Ministry for Economic Affairs...more

EU Proposal to Regulate Foreign Subsidies That Distort the Internal Market

The European Commission (EC) has published a proposal (Proposal) for a regulation on foreign subsidies that distort the internal market. The Proposal aims to address the perception that foreign subsidies have created an...more

Germany Further Expands FDI Control Regime

The latest amendments build on last year’s reform, extensively expanding the sectors subject to a mandatory review. Key Points: ..The list of sectors in which investment in a German business triggers a notification...more

Energy and Infrastructure in Germany Sustains Momentum Despite Challenges

The energy and infrastructure sectors continue to experience transformative changes at a high pace, a trend that Latham expects to sustain momentum for the foreseeable future. Energy Sector - The global mega-trend of...more

European Commission’s White Paper on Foreign Subsidies: Closing a regulatory gap?

The Commission opens a public consultation on a new tool to protect the EU from international competition. The European Commission (the Commission) is consulting the market on a proposal to add a new tool to the EU...more

COVID-19: Deutschland plant erhebliche Ausweitung der Investitionskontrolle

Die Änderungen der Außenwirtschaftsverordnung erweitern die Anmeldepflichten im Gesundheitssektor und stellen die Kriterien zur Überprüfung von Auslandsinvestitionen klar. Zusammenfassung: ..Beteiligungen von mindestens...more

COVID-19: Germany Plans for Significant Increase of Foreign Investment Scrutiny

Changes will extend the scope of filing requirements in the healthcare sector and clarify factors for review of foreign investment in German companies. Key Points: ..Acquisitions of at least 10% of German companies that...more

European Union Introduces FDI Screening Mechanism on Security and Public Order Grounds

EU Regulation on FDI will enhance Member State cooperation in screening investments by non-EU investors. Key Points: ..The Regulation will establish a cooperation and coordination framework amongst Member States and the...more

New UK National Security M&A Regime Expected in 2019

In June 2018, the UK adopted new powers to review certain technology related deals on national security grounds, extending the scope and breadth of its control regime to those that concern computing hardware, or quantum...more

German Government Extends Foreign Investment Control To Certain 10% Minority Investments

Changes to the German Foreign Trade and Payments Ordinance will impact investments by non-EEA investors. Key Points: ..The changes will allow the German government to scrutinize direct and indirect acquisitions of at...more

Germany and Austria Release Guidance on New Size-of-Transaction Test in Merger Control

Final joint guidance on new transaction value threshold published. The German Federal Cartel Office (FCO) and the Austrian Federal Competition Authority (FCA) have released a joint guidance paper (Guidance Paper)...more

Can Overseas Bidders Guard Against M&A Risks in An Increasingly Economically Nationalist Europe?

Growing economic nationalism is threatening to impact M&A across Europe, as governments and regulators take an increasing interest in “foreign” acquisitions of nationally important companies. Deal teams have previously...more

Economic Nationalism Set to Impact M&A Transaction Approvals Across Europe

Growing economic nationalism is threatening to impact M&A across Europe, as governments and regulators take an increasing interest in “foreign” acquisitions of nationally important companies in the name of national security....more

European Commission Proposes Framework to Screen Certain Foreign Direct Investments

Proposal coordinates existing national screening mechanisms, grants the Commission powers to review investments of “Union interest.” European Parliament and Member States’ approval still required. Key Points: On 13...more

New German Foreign Investment Rules Threaten Deal Timetables

The German government has tightened the rules for its review proceedings for M&A involving non-EU investors, with changes to its German Foreign Trade and Payments Ordinance (Außenwirtschaftsverordnung) that significantly...more

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