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UK Open for M&A - Government Seeks Evidence on National Security and Investment Act Scope

The UK government is considering steps to make the regime more business-friendly, while maintaining and refining essential national security protections. The National Security and Investment Act 2021 (NSIA), the UK’s first...more

UK Government Publishes Draft Legislation for a New Foreign Direct Investment Regime

Investors should plan today for the UK’s National Security and Investment Bill. On 11 November 2020, the UK government published the draft of its long-awaited National Security and Investment Bill (the NSI Bill). The...more

EU State Aid Temporary Framework for COVID-19 - Fourth Amendment

The fourth amendment extends and modifies the framework to support companies affected by COVID-19. On 13 October 2020, the European Commission (Commission) published a fourth amendment to the Temporary Framework for State...more

COVID-19: State Aid in the EU and UK

While the COVID-19 outbreak is a severe public health emergency for citizens and societies, it also poses the risk of a serious downturn in the economy, affecting businesses, jobs, and households. In these exceptional...more

COVID-19: EU State Aid Granted to the Aviation Sector

Austria has reportedly agreed to grant to Austrian Airlines €600 million to secure its future operation as a network carrier in Vienna. The aid consists of a 90% state-guaranteed loan (€300 million) and a direct grant (€150...more

Foreign Investment Controls - Are We Seeing a More Nuanced Approach to Private Equity?

Amid FDI screening regime expansion, deal teams have opportunities to capitalise on newly available exemptions, but must beware novel complexities. US intervention in the proposed acquisition of hotel-software company...more

EU State Aid Temporary Framework for COVID-19 - Second Amendment

The second amendment allows EU Member States to provide State aid in the form of recapitalisations and subordinated debt to companies affected by COVID-19. On 8 May 2020, the European Commission (Commission) adopted a...more

CMA Issues New Guidance on Merger Assessment During COVID-19 Pandemic

The guidance includes a refresher on “failing firm” defence claims, for which the CMA will maintain a high bar. On 22 April 2020 the UK’s Competition and Markets Authority (CMA) published guidance on its assessment of...more

Competition Law in the Energy Sector: What to Look Out For in 2020

Ofgem’s recently announced goals and developments and changes to the post-Brexit state aid regime will have important implications for market players. 2020 is set to be a an important year for competition law-related...more

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