Investments in Luxembourg entities closed after September 1, 2023—including those signed beforehand—will need to factor in potential FDI filings in the Grand Duchy.  The Luxembourg FDI law establishes a mandatory screening system for non-EEA investments made on a lasting basis in legal entities incorporated in Luxembourg and carrying out critical activities.  Luxembourg follows in the footsteps of its Benelux counterparts that introduced new FDI regimes in the past two months.[1]Continue Reading Benelux FDI: Luxembourg FDI Screening Regime Enters Into Force

The EU FSR filing forms have been adopted and the regime is now in effect. Businesses must prepare to notify qualifying M&A deals and public tenders from October 12.

This alert provides an overview of the FSR’s rules, procedures and filing requirements.

On July 19, Cleary Gottlieb and Oxera will host a webinar on practical

On June 1, 2023, the Dutch foreign direct investment (“FDI”) screening regime entered into force, introducing a mandatory and suspensory screening regime for direct and indirect investments in companies in the Netherlands by European (including Dutch) and non-European investors. Continue Reading Dutch Foreign Direct Investment Screening Regime Enters Into Force

Distributors of cattle, cocoa, coffee, oil palm, rubber, soy, wood and derived products will be subject to increased supply chain due diligence

Deforestation and forest degradation are drivers of climate change and biodiversity loss. Between 1990 and 2020, 420 million hectares of forest – an area larger than the European Union – were lost due to deforestation, the Food and Agriculture Organization of the United Nations (FAO) reported. The EU is responsible for 7-10% of global consumption of deforestation-linked crops and livestock products.Continue Reading EU Approves Ban on Products Linked to Deforestation

On February 6, 2023, the European Commission (“Commission”) launched a public consultation on its proposed rules and procedures for merger and public procurement notifications under the EU Foreign Subsidies Regulation (“FSR”). Continue Reading Commission Consults on Notification Requirements and Process for EU Foreign Subsidies Regulation

On September 9, 2022, the French Ministry of Economy (the “Minefi”) issued its first guidelines on the regulation of foreign investment control in France (“FDI Regulation”) (the “Guidelines”).[1]

The Guidelines were eagerly awaited as certain provisions of the FDI Regulation leave room for discretion and there is no published decision-making practice on which the relevant stakeholders may rely.  While the Guidelines do not constitute an element of hard law, they provide useful insight into the official interpretation of certain elements of the FDI Regulation.  By contrast, clarifications regarding the identification of “sensitive activities” remain underwhelming.Continue Reading French Government Issues Guidelines on FDI Regulation

On April 6, 2022, the European Commission (“EC”) issued a communication calling for greater vigilance towards foreign direct investment (“FDI”) from Russia and Belarus, and guiding Member States on how best to screen and examine these investments going forward.[1]  The EU FDI alert follows the recently adopted EU sanctions package against both countries.[2]
Continue Reading EU On Alert Towards Russian FDI

Businesses applying for aid in disadvantaged regions of the EU will face new rules after December 31, 2021.

The new EU Regional Aid Guidelines increase the thresholds for aid intensity, but reduce the geographic areas eligible for aid in many Member States, which could affect the availability of aid for different companies.

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On May 5, 2021, the European Commission proposed a new draft regulation that, if adopted, would introduce sweeping measures aimed at controlling the impact of foreign subsidies on the EU single market.  The Proposed Regulation reflects the EU’s policy priority to pursue an “open strategic autonomy” and fits into the EU Industrial Strategy, updated

On May 5, 2021, the European Commission proposed a new draft regulation that, if adopted, would introduce sweeping measures aimed at controlling the impact of foreign subsidies on the EU single market.  The Proposed Regulation reflects the EU’s policy priority to pursue an “open strategic autonomy” and fits into the EU Industrial Strategy,