State-Owned Enterprises

News & Analysis as of

CFIUS and FINSA: Analyzing “foreign control”, “national security risk” and other factors

My recent CFIUS post explained the basic legislative scheme and review process of the Foreign Investment in National Security Act (“FINSA”), which gives the President of the United States, acting upon the recommendation of...more

The New China and Your Company's Intellectual Property

The Chinese economy has changed dramatically in the past two, five, and even 20 years, but its intellectual property (IP) laws have only very recently developed to somewhat better deal with the new reality. The new Chinese...more

Opening of Mexico energy market a benefit to NAFTA partners

On December 12, 2013, Mexico’s lower house of Congress finally passed energy reforms, opening the country’s state-monopolized industry after 75 years. The 353-134 vote will allow private companies as well as international...more

Ninth Circuit Clarifies Scope of Commercial Activity Exception to Sovereign Immunity

On December 6, 2013, the U.S. Court of Appeals for the Ninth Circuit, sitting en banc, issued its decision in Sachs v. Republic of Austria, a case presenting important questions concerning the types of commercial activities...more

Mexican Senate and House of Representatives Approve Constitutional Energy Sector Reform

A constitutional reform approved by Mexico's Senate and House of Representatives will transform the country's energy sector, pending expected approval by the majority of state congresses. ...more

Reform Opens Door to Private Investment in Mexico’s Energy Sector

Mexican Senate presents comprehensive Energy Reform Bill to the House of Representatives with tremendous potential for domestic and foreign energy companies. In an encouraging move toward energy reform, the Mexican...more

On The Horizon — Renewable Energy In Asia: India

1. What are the driving factors for increasing renewable energy production in India? India’s power generation sector has been dominated by conventional energy. As per data released by the Central Electricity Authority...more

Political Trends in Latin American Oil: Mexico and Venezuela

Mexican President Enrique Peña Nieto has responded to over a decade of declining oil and gas production with vocal support of reform of the Mexican energy sector. While the Mexican Constitution provides PEMEX a monopoly in...more

With new law, Mongolia opens to investors

The Great Hural, Mongolia’s Parliament, has ratified a new investment law, already in effect since November 1, that dramatically alters the investment landscape in Mongolia. The new investment law is one of the first...more

Oral Arguments Heard In Historic "Foreign Official" Challenge

Last Friday in Miami, the 11th Circuit Court of Appeals heard oral argument in U.S. v. Joel Esquenazi & Carlos Rodriguez. The issues on appeal did not just relate to the FCPA’s ”foreign official” element, but as to this...more

Mexico's Quiet Energy Revolution

As the World focuses on dramatic shifts in government following the dawn of Arab Springs, a dramatic revolutionary change is quietly taking place with our neighbor to the south. Mexico's President Enrique Pena Nieto has...more

U.S. & China Conclude Fifth Meeting Of Strategic & Economic Dialogue

The fifth round of the U.S.-China Strategic and Economic Dialogue ("S&ED") yielded some forward progress in addressing a number of investment and trade issues. U.S. Treasury Secretary Jacob Lew and Chinese Vice Premier Wang...more

Is There Supreme Court Exclusive Jurisdiction Over Patent Inventorship Disputes Between State Universities? Federal Circuit Says...

In University Of Utah V. Max-Planck-Gesellschaft, the Federal Circuit was faced with deciding whether a patent inventorship dispute between two different state universities is a “dispute between two states” that falls under...more

Bill C-60: A More Restrictive Approach to Foreign State-Owned Enterprise Investment in Canada

Introduction & Background - On December 7, 2012, the Government of Canada (the “Government”) approved two major foreign state-owned enterprise (“SOE”) acquisitions of Canadian oil sands businesses: the China National...more

New Bill Heightens Potential For More Investment Canada Reviews Of SOE Acquisitions

Last week the Canadian Government introduced amendments to the Investment Canada Act (ICA) to implement its revised policy towards state-owned enterprises (SOEs) which it announced in December last year....more

Trans-Pacific Partnership Agreement: Inclusion of Japan in Talks Raises Stakes/Opens Opportunities to Address Trade Barriers

On April 24, 2013, the Obama Administration notified Congress of its intent to include Japan as the 12th country to take part in negotiations for the Trans- Pacific Partnership (TPP). The notification begins a formal...more

Proposed Amendments to Investment Canada Act Capture Control-in-Fact Investments by State-Owned Enterprises

On April 29, 2013, the Federal Government introduced its 2013 budget implementation bill, Bill C-60,1 which would also implement announcements made by the Federal Government on December 7, 2012 concerning investments by...more

REGULATORY: EU Competition Law: European Commission clears the acquisition of TNK-BP by Rosneft

The European Commission (“Commission”) has approved without conditions Rosneft’s US$ 54.8 billion acquisition of TNK-BP. The Commission’s 8 March approval came two months after the Russian Federal Antimonopoly Service (“FAS”)...more

FCPA “Reform”: Another Shot In The Dark

Timing is everything. Woody Allen said it best – 80 percent of life is just showing up. Unless you are the Chamber of Commerce. Talk about bad timing and sour grapes....more

Change of Leadership in China – What Does It Mean For Doing Business In China?

When I visited Spain last year, a local Spaniard talked with me about his thoughts as he watched coverage of the presidential election in the United States....more

Focus On Competition, Antitrust And Foreign Investment - January 2013: "Investment Canada And Competition Law – 2012 In Review and...

In This Issue: - Investment Canada ..State-Owned Enterprises Under Scrutiny - Competition Act ..Mergers ..Cartels And Bid-Rigging ..Price Maintenance ..Abuse Of Dominance ..Competition Bureau...more

"End of a trend"? Canada Approves CNOOC/Nexen and Petronas/Progress Acquisitions, but Revises Approach to SOE Investment

Introduction & Background - On Friday, December 7, 2012, the Canadian government (the “Government”) issued determinations under the Investment Canada Act (the “Act”), approving acquisitions by foreign state-owned...more

Focus on Foreign Investment: Canada Gives Green Light to CNOOC and Petronas Deals, But Red Light to Future SOE Takeovers in Oil...

On Friday, December 7th, the Canadian Government approved two controversial takeovers of Canadian companies under the Investment Canada Act, Canada’s foreign investment review legislation: the acquisition of oil and gas...more

Canadian Government Adjusts Rules for Foreign Investment

On December 7, 2012, the Canadian Minister of Industry announced decisions under the Investment Canada Act (ICA) to allow acquisitions by two foreign state-owned enterprises (SOEs): of Nexen Inc. by China National Offshore...more

New Rules for Foreign Investment by State-Owned Enterprises - Do They Strike the Right Balance?

On December 7, 2012 the federal government announced its approval of both Malaysian-controlled PETRONAS’ proposed $6 billion acquisition of Progress Energy Resources Corp. (“Progress”) and China National Offshore Oil...more

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