On February 13, 2022, the Office of Investment Security of the U.S. Department of Treasury, which administers the Committee on Foreign Investment in the United States (CFIUS), published a final determination finding that (1) the United Kingdom of Great Britain and Northern Irelands and (2) New Zealand have the met the criteria for remaining an … Continue Reading
On Tuesday, April 12, 2022, the US Department of Commerce, Bureau of Industry and Security (BIS) published in the Federal Register a Final Rule amending the Export Administration Regulations (EAR) (15 CFR parts 730-774) to add four additional countries to the list of countries excluded from certain license requirements (Supp. No. 3 to part 746) … Continue Reading
On 20 April 2021, the UK’s Competition and Markets Authority (CMA), the German Bundeskartellamt (BKartA) and the Australian Competition and Consumer Commission (ACCC) issued a joint statement¹ and held a joint online event pushing for more rigorous merger control enforcement. Our global competition team in these jurisdictions unpacks the joint statement and provides the following … Continue Reading
Status: Clearance Acquirer: IFM Investors (Australia) Acquired: Buckeye Partners, L.P. (US) Value: US$6.5 billion Industry: Oil & Gas UPDATE: On October 3, 2019, Buckeye Partners L.P. announced it had “successfully received approval from [] the Committee on Foreign Investment in the United States . . . .” (Buckeye Partners L.P, Form 8-K, Oct. 3, 2019, SEC … Continue Reading
Status: Clearance Acquirer: China Grand Pharmaceutical and Healthcare Holdings Limited (Bermuda; Hong Kong SAR, China; China); CDH Genetech, Ltd. (Cayman Islands; China) Acquired: Sirtex Medical Limited (Australia) Value: Approximately A$1.9 Billion (US$1.4 Billion) Industry(ies): Healthcare; Biotechnology; Medical Devices… Continue Reading
Status: Clearance Acquirer: Speedcast International Limited (Australia) Acquired: Globecomm Systems Inc. (US) Value: Approx. US$135 million Industry: Telecommunications… Continue Reading
Status: Clearance Acquirer: Boral Limited (Australia) Acquired: Headwaters Incorporated (US) Value: US$2.6 billion Industry: Construction Materials UPDATE: In relation to the November 20, 2016 Agreement and Plan of Merger between Headwaters, Inc., and Boral Limited, an Australian corporation, Headwaters disclosed in its recent quarterly regulatory filing that “the parties satisfied the CFIUS closing … Continue Reading
Russia has renewed its embargo on food imports from several of the countries that have imposed sanctions on Russia, until 31 December 2017. The countries include Member States of the EU, the US, Canada, Australia, Norway, Albania, Montenegro, Iceland, Liechtenstein and Ukraine. Russia first introduced the embargo in 2014 as a counter-measure to sanctions imposed by western governments in protest … Continue Reading
China’s insatiable appetite for vitamins and supplements is pumping billions of dollars into the Australian economy, with thousands of online shoppers snapping up products from leading Australian and New Zealand brands Blackmores, Swisse Wellness, Vitaco and Bellamy’s. Baby formula exports have become a lucrative business, thanks to the end of China’s one child policy and … Continue Reading
Touted as the largest trade agreement in history, the TPP involves 12 Pacific Rim countries which collectively represent 40% of global GDP. That equates to US$28 trillion dollars and 800 million people. Australian Trade Minister Andrew Robb claimed the agreement will usher in a new era of economic growth and opportunity across the fast-growing Asia-Pacific … Continue Reading
