Photo of Katherine Kingsbury

Katherine has experience advising on a broad range of corporate matters, including joint ventures, private M&A, takeovers, other significant transactions for public companies, venture capital, restructurings, and general advisory work. She has over 13 years’ experience in corporate practice, including responsibility for knowledge management and training.

In addition, Katherine has particular interest in UK corporate governance and its application to listed companies, larger private companies, and private equity.

On June 22, 2020, the UK Government introduced legislation to Parliament that further strengthens its ability to intervene in transactions on national security and other public interest grounds.

Specifically, the UK Government has sought additional powers to intervene in transactions where there is need to preserve the capability of the UK to respond to a public health emergency or mitigate its effects. These new powers relating to public health emergencies came into effect on June 23, 2020. This development in the UK is the latest in a line of measures introduced in other European jurisdictions to tighten foreign direct investment (FDI) screening rules in the context of the COVID-19 pandemic.

In addition, the UK Government took this opportunity to propose expanding the list of sectors for which lower intervention thresholds apply in the UK, to include artificial intelligence, cryptographic authentication technology and advanced materials. These measures relating to critical technology sectors will come into effect at a later date, following Parliamentary debate and approval by both Houses of Parliament.


Continue Reading UK Introduces Targeted New Powers to Scrutinise Foreign Investment

On 17 June 2020 the European Commission (“Commission”) published a White Paper on new enforcement powers regarding foreign subsidies. This initiative pursues two objectives, first it sets out a general policy approach for foreign subsidies, and second, it provides a number of proposals to address a perceived regulatory gap. More specifically, the White Paper suggests new tools to manage what the Commission regards as unfair competition and other distortions of competition within the internal market caused by foreign subsidies.

The White Paper proposes these new review powers of the Commission and/or other competent authorities in addition to already existing tools such as antitrust and merger control, State aid and FDI screening. As such, the Commission outlines a complementary toolbox aimed to facilitate transparency regarding foreign subsidies and maintain a level playing field within the EU internal market.
Continue Reading European Commission publishes White Paper on the Review of Foreign Subsidies – [New/More] Intervention Powers ahead?

The FDI space in Europe remains dynamic. Less than five months from the entering into force of the EU FDI Regulation, and just two months since the European Commission asked the Member States to both strengthen and “vigorously” implement the tools available to them and, where appropriate, introduce new FDI screening mechanisms –on which we reported in our previous alert –the past week manifested a number of legislative activities across Europe.

In this blog, we consider the changes proposed or made to laws in Germany, Hungary, Poland and Austria. Overall, we observe a further tightening of the legislative field, lowering the intervention thresholds / filing requirements, while increasing the sectors covered.

Besides the jurisdictions covered in the following, a new FDI law was also proposed in the Czech Republic in April and will be discussed and debated in the Czech Parliament in the coming weeks – watch this space for further updates.
Continue Reading Regulation of Foreign Direct Investment (“FDI”) gathers Pace across Europe – A Week of Change.

The European Commission has added to its call to Member States to act on foreign direct investment (“FDI”) by announcing that it is ready to support EU-level cooperation on FDI now. Spurred on by the COVID-19 crisis and the perceived vulnerability of key EU assets, the informal cooperation announced by the Commission will bring into effect early certain elements of the EU-level screening mechanism under the EU FDI Regulation that would otherwise have come into force in October 2020.

We consider what this announcement means and share some additional insights into the current approach of the Commission and Directorate-General Trade (“DG Trade”) to the subject of FDI based on a recent forum including senior officials.
Continue Reading European Commission Goes “Live” on FDI Coordination Six Months Early, Proposing Cooperation on an Informal and Voluntary Basis