On 22 January 2021 the German Ministry for Economic Affairs and Energy (“BMWi”) published a draft for the 17th amendment (“Draft Amendment”) of the Foreign Trade and Payments Ordinance (“AWV”). While the Draft Amendment remains subject to comments and further consultation, it already provides early guidance on sectors that may come under close Foreign Direct … Continue Reading
On 2 December 2020, the German government prohibited the acquisition of German company IMST GmbH, Kamp-Lintfort (“IMST”) by a Chinese investor. This is the second high profile prohibition decision issued by the German government this year on the grounds of Foreign Direct Investment (“FDI”) rules. Read in conjunction with the upcoming legislative tightening of the … Continue Reading
The European Commission (”Commission”) is preparing the ground for a new competition enforcement tool. This new tool could substantially extend the competition authority’s current enforcement powers and allow for far-reaching intervention where the Commission identifies structural competition concerns. In particular, following the proposal, the standard for intervention could be lowered significantly as the Commission may … Continue Reading
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 … Continue Reading
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 … Continue Reading
On 27 April 2020 the Federal Cartel Office in Germany (“FCO”) cleared the acquisition of Vossloh Locomotives GmbH (“Vossloh Locomotives”) by Chinese manufacturer CRRC Zhuzhou Locomotives Co. Ltd. (“CRRC”). FCO President Andreas Mundt stated that the in-depth investigation found that initial concerns were not serious enough to justify prohibiting the transaction. The FCO released a … Continue Reading
In two recent webinars covering antitrust, mergers and state aid, DG COMP senior officials shared their views on how DG COMP is operating under the current COVID-19 crisis. Antitrust: More Flexible Enforcement Maria Jaspers, head of unit for antitrust case support and policy, gave the following key messages: The absence of legal deadlines creates certain … Continue Reading
The German government has proposed a new draft bill reforming the current foreign direct investment (“FDI”) regime, which is likely to have a significant impact on all M&A transactions involving acquisitions of 10% or more of the voting rights in German companies active in “critical infrastructures” and “critical technologies” by any non-EU investors. Under the … Continue Reading
