Foreign investment (FDI) screening regimes continued to present challenges for dealmakers. We saw tough intervention in key jurisdictions. New and expanding rules added to regulatory burden. Overall, most deals are cleared...more
2/28/2025
/ Acquisitions ,
Compliance ,
EU ,
Foreign Direct Investment ,
Global Market ,
Investment ,
Mergers ,
National Security ,
Regulatory Agenda ,
Regulatory Requirements ,
Risk Management ,
UK
On January 15, 2025, the European Commission (EC) issued a Recommendation (the Recommendation) urging European Union (EU) Member States to scrutinize their companies' investments in non-EU countries (also referred to as...more
The second annual report on the functioning of the UK’s investment screening regime has been published. We highlight the key points....more
To address concerns around the transparency and predictability of the National Security and Investment Act 2021 (NSIA) regime, the UK government has published the second edition of its “market guidance notes”. Following the...more
Navigating the international foreign direct investment (FDI) landscape is becoming ever more complex. In 2022 we saw a proliferation of new FDI regimes, a stream of revisions to existing rules and unprecedented levels of...more
The UK government has announced that it will require Chinese-owned technology company Nexperia BV to sell the 86% shareholding it acquired in July 2021 in the UK’s largest semiconductor plant, Newport Wafer Fab (since...more
President Biden recently issued “formal Presidential direction” on the risks that the United States will consider when evaluating in-bound foreign investment....more
The UK’s new national security screening tool has been in force for over 9 months and its impact on deal making is being felt. Determining whether notification is required can be complex and while the notification process...more
With the EU FDI Regulation close to celebrating its second year anniversary, the European Commission (EC) has published its second annual report on EU FDI screening covering the operation of the mechanism in 2021. In...more
The UK National Security and Investment Act 2021 (NSIA) has been in force for over six months. We know that within the first three months, the UK government received 221 notifications and “called-in” 17 deals for a more...more
The National Security and Investment Act 2021 came into force on 4 January. We look at the implications for the loan markets.
...more
The UK government is continuing to build up its guidance in preparation for the commencement of the UK’s national security regime on 4 January 2022. ...more
The UK government has taken a further step in preparation for the commencement of the UK’s strengthened national security regime on 4 January 2022. ...more
The UK’s strengthened national security regime will commence on 4 January 2022. From that date there will be a dramatic expansion of the UK Government’s ability to scrutinise investments. This will include a power for the UK...more
The UK’s strengthened national security regime will commence on 4 January 2022. From that date there will be a dramatic expansion of the UK Government’s ability to scrutinise investments. That will include a power for the UK...more
On 29 April 2021, the National Security and Investment Act 2021 (the Act) received royal assent. The Act dramatically expands the UK Government’s powers to scrutinise investments. The regime that the Act puts in place has not...more
The UK government has finally delivered on its promise to tighten the scrutiny of transactions on national security grounds....more
The table below sets out an overview, based on our current awareness of the position as regards foreign investment control, of the different approaches being taken by authorities around the world in response to the Covid-19...more
On 11 November 2020 the UK Government published its groundbreaking National Security and Investment Bill (Bill). The Bill will drastically expand the Government’s powers to scrutinise investment on national security grounds,...more
On 11 November 2020 the UK Government published its groundbreaking National Security and Investment Bill (Bill). The Bill will drastically expand the Government’s powers to scrutinise investment on national security grounds,...more
11/12/2020
/ Corporate Sales Transactions ,
Covered Transactions ,
Critical Infrastructure Sectors ,
Foreign Investment ,
Investment ,
Investment Funds ,
Legislative Agendas ,
National Security ,
Private Equity ,
Regulatory Reform ,
UK
The proliferation of merger control regimes around the world – and the resulting need to consider potential notification requirements in multiple jurisdictions – poses an increasing burden for businesses seeking to make...more
On 24 July 2018 the UK Government published a White Paper setting out proposed new powers for the UK Government to intervene in deals on grounds of national security. The Government’s aim is to “protect national security from...more
On 17 October 2017 the UK Government published a Green Paper heralding reform of national security and infrastructure investment review in the UK (the Green Paper).
Specifically, the Government is seeking to strengthen...more