The Development: On January 24, 2024, the European Commission ("EC") unveiled a package of five fresh initiatives aimed at strengthening the European Union's ("EU") economic security (the "Package"). This will likely increase...more
The Development: The Screening of Third Country Transactions Act 2023 (the "STCT Act") was signed into law on October 31, 2023, introducing a new investment screening regime in the Republic of Ireland ("Ireland") with a...more
On October 3, 2023, the European Commission ("Commission") unveiled a list of 10 technology areas qualified as "critical" to the European Union's ("EU") economic security, out of which four (Semiconductors, AI, Quantum...more
10/17/2023
/ 5G Network ,
Artificial Intelligence ,
Biotechnology ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Economic Reform ,
EU ,
European Commission ,
Export Controls ,
Foreign Direct Investment ,
Foreign Investment ,
Investment Controls ,
Risk Assessment ,
Semiconductors
In Short -
The Background: Luxembourg has introduced a new foreign direct investment regime with a suspensory mandatory notification requirement in relation to investments in a broad range of sectors....more
In Short -
The Situation: On July 13, 2023, the European Court of Justice ("ECJ") issued a judgment (Case C-106/22 - Xella) clarifying the conditions under which EU Member States may screen and block foreign direct...more
In Short -
The Development: The new Belgian foreign direct investment screening law ("FDI Regime") imposes preclosing filing requirements on non-EU investments into various industry sectors in Belgium, including energy,...more
On 2 December 2022, the European Commission proposed a new Directive aiming to unify the approach taken by its Member States to enforce European Union ("EU") sanctions and criminalize their violations (the "proposal")....more
To anticipate the risk of a complete halt, or further substantial reduction, of Russian gas supplies in the near future, Member States of the EU have agreed to reduce their gas consumption by 15% between 1 August 2022 and 31...more
European energy companies face unprecedented uncertainty as a result of Russia’s invasion of Ukraine. As noted in our last White Paper, many countries have progressively imposed increasingly significant sanctions on Russia...more
6/10/2022
/ Counter Sanctions ,
Economic Sanctions ,
EU ,
Foreign Policy ,
Foreign Relations ,
Military Conflict ,
Oil & Gas ,
Russia ,
Trade Retaliation ,
Ukraine ,
Vladimir Putin
An Eagerly Awaited Decision -
The Grand Chamber of the Court of Justice of the European Union ("CJEU") has recently— and for the first time—given its opinion on the interpretation and application of the controversial...more
The EC recently found that Hungary's veto of Vienna Insurance Group's ("VIG") acquisition of the Hungarian subsidiaries of the AEGON Group, an insurance, pension fund, and asset management company, breached EU merger control...more
France has published an ordinance setting out the legal regime for hydrogen, aimed at fostering renewable and low-carbon hydrogen.
Under ordinance n° 2021-167, dated February 17, 2021, three different types of hydrogen are...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
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
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
On 21 March 2019, Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 establishing a framework for the screening of foreign direct investments into the Union ("FDI Regulation") was...more
The Situation: In the context of strengthening the control of foreign investments, particularly at the European level, the French Parliament intends to deepen control procedures and broaden the scope of authorization of...more
12/20/2018
/ Acquisitions ,
Cross-Border ,
EU ,
Foreign Direct Investment ,
Foreign Investment ,
France ,
Infrastructure ,
Member State ,
Merger Controls ,
Mergers ,
National Security ,
Proposed Legislation
The Public Procurement Code integrates procurement and concession contract rules into a single code.
The French Government has enacted Ordinance 2018-1074, dated November 26, 2018, and Decree 2018-1075, dated December 3,...more
The Ruling: The Conseil d'État (France's Administrative Supreme Court) has ruled that the public service obligation to supply natural gas at regulated tariffs in France contravened EU law. In particular, it affirmed that no...more
10/13/2017
/ Court of Justice of the European Union (CJEU) ,
Energy Costs ,
Energy Sector ,
EU ,
European Commission ,
France ,
Member State ,
Natural Gas ,
Small Business ,
Supply Contracts ,
Tariffs ,
Territorial Disputes