Monthly Archives: June 2023

North Dakota Law Another Example of State Regulation Over Foreign Acquisitions of Land

By Trade Practitioner on Posted in Foreign Investment Reviews
On April 29, 2023, North Dakota Governor Doug Burgum signed Senate Bill No. 2371 into law, which prohibits local development and ownership of real property by “foreign adversaries,” effective August 1, 2023. The law sunsets on July 31, 2025 and will be ineffective after that date unless renewed. This state law is one of the … Continue Reading

Upcoming/New CFIUS Filing: Viterra Limited; Glencore PLC; Canada Pension Plan Investment Board; British Columbia Investment Management Corporation; and Bunge Limited

By Trade Practitioner on Posted in CFIUS Case Summaries, New Filing
Status: Upcoming/ New Filing Acquirer: Viterra Limited (The Netherlands); Glencore PLC (Sweden); Canada Pension Plan Investment Board (Canada); British Columbia Investment Management Corporation (Canada) Acquired: Bunge Limited (U.S.) Value: $8.2 billion Industry Tags:  Agriculture; Agribusiness… Continue Reading

CFIUS Determines it Lacks Jurisdiction to Review Chinese Land Acquisition

By Trade Practitioner on Posted in Foreign Investment Reviews
In 2022, Fufeng USA, a subsidiary of Chinese company Fufeng Group, purchased 370 acres near Grand Forks, North Dakota, with the intention of developing the land to build a plant for wet corn milling and biofermentation,[1] prompting opposition from federal and state politicians.[2] North Dakota Senators, North Dakota’s Governor, and Senator Marco Rubio urged the … Continue Reading

Not a Covered CFIUS Transaction: Fufeng Group Acquisition of Real Property Near Grand Forks, North Dakota

By Trade Practitioner on Posted in CFIUS Case Summaries, Not a Covered Transaction
Status:      Not a Covered Transaction Acquirer:            Fufeng Group (China) Acquired:           Real property near Grand Forks, North Dakota Value:                  Approximately $2.6 million                   Industry Tags:    Agri-Industrial; Agriculture… Continue Reading

The More the Merrier – New FDI Control Regimes in the EU

By Trade Practitioner on Posted in Foreign Investment Reviews
Introduction This publication provides an overview of important additions and changes to foreign direct investment (“FDI”) control regimes in Europe, which impose regulatory obligations on M&A transactions: Belgium, Ireland, the Netherlands, Slovakia and Sweden.   The number of new and revised FDI control regulations across many jurisdictions has been increasing in response to geopolitical tensions … Continue Reading

OFAC Expands Russian Sanctions

By Trade Practitioner on Posted in Export Controls & Sanctions, Russia
On May 19, 2023, the Department of Treasury’s Office of Foreign Asset Control (OFAC) expanded U.S. economic sanctions against Russia through the issuance of: In addition, OFAC issued four general licenses related to these expansions. (Recent Actions, Department of Treasury, Russia-related Designations; Issuance of Amended Russia-related Directive 4, Russia-related General Licenses; Publication of Russia-related Determinations; … Continue Reading

CFIUS Clearance: AGS Health LLC (U.S.); AGS Health Private Limited (India) and Mediscribes Solutions, Inc.

By Trade Practitioner on Posted in Americas, CFIUS Case Summaries, Clearance, US
Status:        Clearance or No Action Acquirer:              AGS Health LLC (U.S.); AGS Health Private Limited (India) Acquired:             Mediscribes Solutions, Inc. (U.S.) Value:                   $56 million Industry Tags:    Software; Healthcare… Continue Reading

Supreme Court Clarifies Knowledge Requirement for False Claims Act Liability

By Trade Practitioner on Posted in Uncategorized
Earlier this year, we previewed two significant False Claims Act (FCA) cases before the U.S. Supreme Court, United States ex. rel. Schutte v. SuperValu, Inc., No. 21-1326 (“SuperValu”), and United States ex. Rel. Proctor v. Safeway, Inc., No. 22-111 (“Safeway”).  The FCA provides that “any person who knowingly presents, or causes to be presented, a false or fraudulent claim” to the … Continue Reading

Trade Alert: US Action Against Certain Paper Shopping Bag Imports

By Trade Practitioner on Posted in AD/CVD, Trade Policy & Market Access
On May 31, 2023, Novolex and union workers filed antidumping duty (AD) petitions against certain paper shopping bags imports claimed to be sold into the US at less than normal value (i.e., at unfairly low prices, such as below cost or home or third-country prices) and requested the imposition of AD import duties of: Offsetting … Continue Reading
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