The Development: The European Commission ("EC") recently released two long-awaited legislative proposals, the Digital Services Act ("DSA") and Digital Markets Act ("DMA"), that would significantly increase the EC's regulatory...more
The lowered threshold for foreign direct investments into France will apply to non-EU and non-EEA investors or to any investor fiscally domiciled outside the European Union and European Economic Area.
On July 23, 2020,...more
7/27/2020
/ EU ,
European Economic Area (EEA) ,
Foreign Direct Investment ,
Foreign Investment ,
France ,
French Commercial Code ,
Investors ,
National Security ,
New Regulations ,
Threshold Requirements ,
Voting Rights
The Development: The EU General Court annulled the European Commission's decision in the Apple case, holding that the Commission did not prove that the Irish tax rulings in question gave rise to a selective advantage under EU...more
7/21/2020
/ Apple ,
BEPS ,
Corporate Taxes ,
EU ,
European Commission ,
Fiat ,
Government Investigations ,
Member State ,
OECD ,
Popular ,
Starbucks ,
State Aid ,
Transfer Pricing ,
Treaty on the Functioning of the European Union (TFEU)
One effect of the COVID-19 pandemic has been to accelerate the implementation of new or stricter controls on inward-bound foreign direct investment activity ("FDI"), particularly in the European Union. For example, in March...more
Proposed retroactive application could expose investments made as from June 2, 2020, to ex post scrutiny.
On June 2, 2020, the Dutch Government ("Government") announced that it plans to apply a proposed comprehensive...more
On May 20, 2020, the German Federal government adopted the 15th amendment to the Foreign Trade and Payments Ordinance (AWV). The changes to the AWV will be effective shortly, after publication in the Federal Gazette....more
The Background: Manufacturers and brand owners of personal protective equipment ("PPE") and other "essential" items have discovered unauthorised third parties reselling their products at vastly inflated prices, including on...more
Over the past few years, Germany has strengthened the AWV regime. In parallel, the relevance of Germany's foreign direct investment control investigations for M&A transactions involving non-EU investors has grown. Even...more
The Background: The automotive industry has achieved a number of technological advances aimed at developing connected cars, automated vehicles, and ultimately autonomous driving. These innovations are expected to pose a...more
9/7/2018
/ Antitrust Provisions ,
Automotive Industry ,
Competition ,
Competition Authorities ,
Connected Cars ,
Cybersecurity ,
Driverless Cars ,
EU ,
FRAND ,
General Data Protection Regulation (GDPR) ,
Intellectual Property Protection ,
Monopolization ,
Popular
The Background: The automotive industry has achieved a number of technological advances aimed at developing connected cars, automated vehicles, and ultimately autonomous driving. These innovations are expected to pose a...more
8/31/2018
/ Automotive Industry ,
Connected Cars ,
Driverless Cars ,
EU ,
European Commission ,
FRAND ,
Intellectual Property Protection ,
Internet of Things ,
IP License ,
Patents ,
Popular ,
Regulatory Oversight ,
Safety Standards ,
Telecommunications
The Situation: Germany prevented State Grid Corporation of China ("SGCC") from acquiring a 20 percent minority stake in 50Hertz, one of Germany's four providers of high-voltage transmission systems, as well as the acquisition...more
8/10/2018
/ Acquisitions ,
CFIUS ,
China ,
Cross-Border ,
EU ,
Foreign Direct Investment ,
Foreign Investment ,
France ,
Germany ,
Mergers ,
National Security ,
UK
A consultation paper on national security and investment published by the UK government advocates extensive changes to current provisions regarding foreign investment in UK businesses. In essence, the proposed changes would...more
8/3/2018
/ Acquisitions ,
CFIUS ,
Controlled Foreign Corporations ,
Critical Infrastructure Sectors ,
Cross-Border ,
EU ,
Foreign Acquisitions ,
Foreign Direct Investment ,
Foreign Investment ,
Legislative Agendas ,
Mergers ,
National Security ,
Partnerships ,
Proposed Regulation ,
UK ,
UK Competition and Markets Authority (CMA)
The Situation: A recent study examining common corporate shareholdings in the United States argues that the holding of even minority stakes in rival companies by institutional investors affects competition. The European...more
3/9/2018
/ Antitrust Provisions ,
Competition ,
Competition Authorities ,
Corporate Counsel ,
EU ,
EU Merger Directive ,
European Commission ,
European Merger Control Regulation ,
Institutional Investors ,
Private Equity Firms ,
Shareholders ,
UK
The Background: The European Commission has opened an in-depth investigation into a specific provision of the UK-controlled foreign company rules.
The Issue: The Commission will investigate whether the UK's so-called Group...more
12/13/2017
/ Anti Tax Avoidance Directive (ATAD) ,
BEPS ,
Controlled Foreign Corporations ,
Economic and Financial Affairs Council (ECOFIN) ,
EU ,
European Commission ,
European Court of Justice (ECJ) ,
Foreign Subsidiaries ,
International Tax Issues ,
Multinationals ,
Parent Corporation ,
State Aid ,
UK
In April 2017, the European Commission ("Commission") published a tender offer seeking an assessment of the EU market for loan syndication and possible implications under EU competition rules. The successful candidate will...more
5/22/2017
/ Anti-Competitive ,
Antitrust Provisions ,
Banks ,
Borrowers ,
Comment Period ,
Competition Authorities ,
Enforcement Actions ,
EU ,
European Commission ,
France ,
Germany ,
Government Studies ,
Infringement ,
Loans ,
Netherlands ,
Notice and Comment ,
OECD ,
Poland ,
Spain ,
Syndicated Loans ,
UK
The European Commission has introduced a new tool to encourage individuals to disclose anticompetitive conduct on an anonymous basis. Individuals are invited to supply inside knowledge to help the Commission uncover cartels...more
The United Kingdom and the remaining European Union Member States ("EU-27") will negotiate the terms of the UK's withdrawal—and likely its future relationship with the EU—over the course of the next two years. European...more
3/30/2017
/ Article 50 Treaty of the EU ,
Budgets ,
Employee Benefits ,
EU ,
EU Single Market ,
Free Trade Agreements ,
Immigration Reform ,
Jurisdiction ,
Member State ,
Referendums ,
The Great Repeal Bill ,
UK ,
UK Brexit ,
Unified Patent Court ,
WTO