Peter Camesasca

Peter Camesasca

Peter Camesasca has been practicing at the cutting edge of European competition law for 20 years, focusing on the interaction between competitors. This includes constructive M&A- and JV-type cooperation and related filings or self-assessments, as well as IP licensing and technology-sharing arrangements. Dr Camesasca’s work also covers pre-emptive compliance and exposure management in trade associations, as well as handling criminal and administrative investigations into information exchanges, price signaling and cartels, as well as, increasingly, defending against private damages claims before national courts.

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New era of FDI in the European Union – EU FDI Regulation now in full force and effect

On October 11, 2020, the EU FDI Screening Regulation (EU) 2019/452 – the “Regulation”) entered fully into force. The Regulation, which was approved and adopted in March 2019, establishes a framework for the screening of foreign direct investments (“FDI”) by EU Member States in which decision-making powers rest at the Member State level. Significantly, from … Continue Reading

The European Commission Adopts a White Paper on Foreign Subsidies to Protect the EU Single Market

On 17 June 2020, the European Commission (‘Commission’) published a White Paper “on levelling the playing field as regards foreign subsidies” which outlines a proposal for a series of new investigatory and enforcement tools, intended to identify and counteract the possible distortions of competition in the EU single market due to foreign subsidies. A public … Continue Reading

UK is left out of EU cooperation on Foreign Direct Investment, and will soon be “foreign”

The EU Regulation on Foreign Direct Investment (2019/452) (the “EU FDI Regulation”) will enter into force fully on October 11, 2020. Most notably, on this date, a cooperation and information sharing mechanism among Member States and the European Commission in respect of foreign direct investment (“FDI”) that has an ‘EU-dimension’ will come into effect. As … Continue Reading

UK Introduces Targeted New Powers to Scrutinise Foreign Investment

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 … Continue Reading

European Commission publishes White Paper on the Review of Foreign Subsidies – [New/More] Intervention Powers ahead?

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

Regulation of Foreign Direct Investment (“FDI”) gathers Pace across Europe – A Week of Change.

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

European Commission Goes “Live” on FDI Coordination Six Months Early, Proposing Cooperation on an Informal and Voluntary Basis

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 … Continue Reading

German Competition Authority Provides Guidance on the Interplay of Merger Control and FDI Screening

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

“No Issues” with Member State Participations – State-backed EU Companies as the New Normal?

With a remarkable statement in an interview with the Financial Times published on 12 April 2020, the Commission Vice President Margrethe Vestager in charge of Competition was cited to have declared that the Commission has “no issues” with EU Member States buying shares in companies to prevent takeovers by foreign acquirers, in particular by State-backed … Continue Reading

German Government Decides on Tightening the National FDI Screening Regime

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

Vestager outlines portfolio plans in European Parliament confirmation hearing

After her confirmation hearing in front of the European Parliament on Tuesday 8 October, Magrethe Vestager looks certain to remain as Competition Commissioner for a second term and to combine that with a broader responsibility for digital policy development. Both the second term and the combination of the competition portfolio with a policy brief are … Continue Reading

Margrethe Vestager re-appointed as Competition Commissioner and given a broader digital mandate

On 10 September 2019, Margrethe Vestager was proposed as the European Commissioner for Competition, a post which she has held since November 2014.  The appointment is still subject to the confirmation of the European Parliament. Vestager has also been given the role of Executive Vice President, with the mandate of making “Europe Fit for the … Continue Reading

The EU Commission’s cartel fining challenges: a need to “re-fine” the method?

Fines are integral to EU cartel enforcement and subject to careful methodology and review. The European Commission (“EC”) determines cartel fines in accordance with the Guidelines on the method of setting fines imposed pursuant to Article 23(2)(a) of Regulation No 1/2003 (the “Fining Guidelines”). The Fining Guidelines set the value of sales of goods or … Continue Reading

Buying a Pig in a Poke: Financial Investor Antitrust Liability on the Rise

On 5 September 2018, the District Court for the Southern District of California ruled that private equity firm Lion Capital must face trial in class action litigation alongside its portfolio company Bumble Bee Seafoods, in a case alleging price-fixing in the market for canned tuna.  In the wake of the European Court’s judgment in the … Continue Reading

European Commission Launches New Antitrust Investigation into LNG Destination Clauses

On June 21, 2018, the European Commission (“Commission”) started a new investigation to determine whether so-called destination clauses in Qatar Petroleum’s liquefied natural gas (“LNG”) supply contracts with European buyers infringe the European Union (“EU”) antitrust rules.… Continue Reading

EDEKA “wedding rebates” – German Federal Supreme Court removes roadblock to antitrust enforcement in food retail sector

On 23 January 2018, Germany’s Federal Supreme Court (Bundesgerichtshof – BGH) handed down its judgment on alleged anti-competitive requests for preferential rebates and conditions by food retailers (case KVR 3/17 – not yet published).  This is an important judgment as it removes a major roadblock to antitrust enforcement in the food retail sector in Germany, … Continue Reading
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