Tag Archives: energy

China Bolsters Foreign Direct Investment (FDI) Review Framework, Identifies New Areas of Security Concern

The People’s Republic of China (PRC or China) established a foreign investment security review in 2011 that focused exclusively on the merger and acquisition of domestic companies by foreign investors in a notice issued by the State Council (the 2011 Notice)1. On December 19, 2020, the National Development and Reform Committee (NDRC) and the Ministry … Continue Reading

COVID-19 – How Do I Know If What I Do Is An Essential Service

This post is being published for The Trade Practitioner as part of a content partnership with our International Policy Practice. Please contact Matthew Kirk with any questions.    We are being asked with increasing frequency by companies whether, in the context of coronavirus disease 2019 (COVID-19) lockdowns, their business counts as an “essential service”. This … Continue Reading

US Policy Prognosis: The Legislative Response to COVID-19

The post is being published for The Trade Practitioner as part of a content partnership with our Public Policy Practice. Please contact Edward Newberry and Robert Kapla with any questions.  With the rapid spread of coronavirus disease 2019 (COVID-19), commonly known as the “coronavirus” or COVID-19, lawmakers are proposing and voting on policies to aid … Continue Reading

Update: Turkey’s Actions Spur Transatlantic Sanctions Response

The Trump Administration issued an Executive Order (EO) on October 14, 2019, that authorized US Department of the Treasury (Treasury) and US Department of State to impose sanctions on various Turkish individuals and entities involved in the conflict in Northern Syria. The same day that the EO was issued, Treasury’s Office of Foreign Assets Control (OFAC) designated three individuals and two entities as … Continue Reading

Trump Administration Permanently Lifts Sudan Sanctions

  Sudan Sanctions In 1997, the US imposed a comprehensive trade and investment embargo against Sudan. In January 2017, i.e., in the closing days of the Obama Administration, President Obama announced a six-month suspension of US economic sanctions, citing ongoing dialogue with the Sudanese government and the government’s progress in achieving milestones agreed upon in those negotiations. Specifically, the Obama Administration … Continue Reading

European Commission Considers a CFIUS-like Framework for Screening Foreign Investments

On September 13, 2017, the European Commission published the draft of the EU regulation establishing a common European framework for the review of incoming foreign direct investment (FDI), akin to the process in the US administered by Committee on Foreign Investment in the US (CFIUS).… Continue Reading

EU Extends Economic Sanctions Against Russia by Six Months

On 28 June 2017, the European Council extended the economic sanctions targeting specific sectors of the Russian economy until 31 January 2018. These sanctions were originally introduced on 31 July 2014 in response to Russia’s actions destablising the situation in Ukraine and to target the financial, energy and defence sectors, as well as dual-use goods. The EU has expressed that … Continue Reading

CFIUS Filing Clearance: AES Corp., Alberta Investment Management Corp., and FTP Power

Status:  Clearance   Acquirer:  AES Corp. (US) and Alberta Investment Management Corp. (Canada) Acquired:  FTP Power LLC (US) Value:  US$853 Million Industry:  Energy   UPDATE: On July 25, 2017, AES and Alberta Investment Management announced that they had completed “the previously announced acquisition of FTP Power LLC d/b/a sPower (‘sPower’) for approximately $853 million in … Continue Reading

CFIUS Filing Clearance: Algonquin Power & Utilities Corp. and Empire District Electric Company

Status Update:  Clearance   Acquirer:  Algonquin Power & Utilities Corp. (Canada) Acquired:  Empire District Electric Company (Missouri, U.S.) Value:  Approx. US$2.4 billion Industry:  Energy; Regulated Utilities   UPDATE:  In a recent securities filing by Algonquin Power & Utilities Corp. (Canada), it was reported that, in relation to its acquisition of Missouri based Empire District Electric … Continue Reading

CFIUS Filing Clearance: Tyco International plc and Johnson Controls, Inc.

Status Update:  Clearance   Acquirer:  Tyco International plc (Ireland) Acquired:  Johnson Controls, Inc. (U.S.) Value:  US$11.3 billion Industry: Security Solutions   UPDATE:  According to SEC filings, Johnson Controls, Inc. and Tyco International plc, completed their combination on September 2, 2016.  (See Johnson Controls International plc Ex-99.1 to Form 8-K, Feb. 23, 2017, SEC Filing.)  Following … Continue Reading

EU Extends Russia Sanctions

On 19 December, the European Council extended the application of economic sanctions targeting specific sectors of the Russian economy for a further six months until 31 July 2017. These restrictions were introduced on 31 July 2014 by way of Council Regulation (EU) No 833/2014 “concerning restrictive measures in view of Russia’s actions destabilising the situation in … Continue Reading

Obama Administration Lifts Sanctions on Sudan

On Tuesday, January 17, 2017, the Treasury Department’s Office of Foreign Assets Control (OFAC) will publish in the Federal Register a far-reaching amendment to its Sudanese Sanctions Regulations (SSR), 31 CFR Part 538. While styled as a “general license,” the amendment will have the practical effect of terminating the embargo of Sudan that the US … Continue Reading
LexBlog