In two recent decisions in the defense and national security sector, the Italian Foreign Direct Investment Authority ("FDI Authority") asserted jurisdiction in connection with two acquisitions of non-Italian companies that...more
The Australian Treasury, which administers Australia's foreign investment framework, has released its first quarterly report for the 2024-25 financial year. Here are some key statistics and trends from the report.
Treasury...more
On January 15, 2025, the European Commission ("EC") published a Recommendation ("EU Recommendation") urging European Union Member States to start reviewing outbound investments outside of the EU in three strategic sectors:...more
In Short -
The Development: The new Belgian foreign direct investment screening law ("FDI Regime") imposes preclosing filing requirements on non-EU investments into various industry sectors in Belgium, including energy,...more
In Short -
The Development: On 1 June 2023, the Security Screening of Investment, Mergers and Acquisitions Act (Wet Veiligheidstoets investeringen, fusies en overnames) ("the FDI Act") entered into force, introducing a...more
Since the United Kingdom implemented the National Security and Investment Act in January 2022 ("NSI Regime"), there has been a significant increase in state intervention in, and review of, business transactions in the United...more
The 17th amendment to the German Foreign Trade and Payment Ordinance ("AWV") adopted by the federal government on April 27, 2021, included—compared to the original draft—a number of changes relevant to M&A transactions with a...more
The lowered threshold for foreign direct investments into France will apply to non-EU and non-EEA investors or to any investor fiscally domiciled outside the European Union and European Economic Area.
On July 23, 2020,...more
7/27/2020
/ EU ,
European Economic Area (EEA) ,
Foreign Direct Investment ,
Foreign Investment ,
France ,
French Commercial Code ,
Investors ,
National Security ,
New Regulations ,
Threshold Requirements ,
Voting Rights
One effect of the COVID-19 pandemic has been to accelerate the implementation of new or stricter controls on inward-bound foreign direct investment activity ("FDI"), particularly in the European Union. For example, in March...more
Proposed retroactive application could expose investments made as from June 2, 2020, to ex post scrutiny.
On June 2, 2020, the Dutch Government ("Government") announced that it plans to apply a proposed comprehensive...more
The Situation: The UK Government has expanded the scope of the UK's foreign direct investment ("FDI") screening controls to include businesses responding to the COVID-19 pandemic. In addition, the UK has lowered the...more
The Situation: The French government issued on December 31, 2019, new rules substantially revising the French Foreign Direct Investments ("FDI") regulation. These new provisions mostly implement the recent PACTE law and the...more
2/10/2020
/ Acquisitions ,
Critical Infrastructure Sectors ,
Dual Use Goods ,
Foreign Acquisitions ,
Foreign Direct Investment ,
Foreign Investment ,
France ,
Ministry of Economy ,
National Security ,
New Regulations ,
New Rules ,
PACTE Act ,
Screening Procedures
Over the past few years, Germany has strengthened the AWV regime. In parallel, the relevance of Germany's foreign direct investment control investigations for M&A transactions involving non-EU investors has grown. Even...more
The Situation: In the context of strengthening the control of foreign investments, particularly at the European level, the French Parliament intends to deepen control procedures and broaden the scope of authorization of...more
12/20/2018
/ Acquisitions ,
Cross-Border ,
EU ,
Foreign Direct Investment ,
Foreign Investment ,
France ,
Infrastructure ,
Member State ,
Merger Controls ,
Mergers ,
National Security ,
Proposed Legislation