On Wednesday 5 July, Royal Decree 571/2023 of 4 July on foreign investment (RD 571/2023) was published in the Official State Gazette (BOE), presenting itself as the long-awaited regulatory development on foreign direct investment (FDI), and repealing the previous Royal Decree 664/1999 of 23 April on foreign investment.… Continue Reading
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
The Italian Golden Powers Rules have intricate and unique features and broad-reaching effects, which set them apart from other foreign investment control regimes in the EU. For example, a notification requirement may apply to EU as well as national buyers in certain instances and may apply to Italian companies operating in sectors deemed of strategic … Continue Reading
International M&A practitioners are used to dealing with CFIUS for any transaction involving assets in the US. The Europeans M&A practitioners are, however, catching up, and many multijurisdictional deals will now face clearance in a number of countries. The latest addition to the list, the UK National Security and Investment Bill, is broad in scope … Continue Reading
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
A complimentary invitation for the European Society of International Law (ESIL), Economic Law Interest Group’s online workshop, “International Economic Law between Emergencies and Reforms” for September 9, 2020 from 9:30-17:00 CEST is enclosed.… Continue Reading
The EU’s trade commissioner had urged member states to ramp up screening levels of foreign direct investment (FDI) in order to prevent predatory takeovers of key businesses during the coronavirus pandemic.… Continue Reading
On March 25, 2020, the European Commission published a Guidance addressed to Member States on the application of foreign direct investment (FDI) Screening Regulation 2019/452 in the EU and restrictions on free movement of capital from third countries. The Guidance relates to the Coronavirus Disease 2019 (COVID-19) pandemic. … Continue Reading
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
