François-Charles Laprévote

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On September 24, 2024, the European Commission (EC) conditionally approved, under the Foreign Subsidies Regulation (FSR), the acquisition of PPF Telecom Group (PPF) by Emirates Telecommunications Group Company PJSC (e&).[1]  The EC’s clearance is subject to commitments valid for 10 years, which may be extended by another 5 years.  This is the EC’s first Phase II conditional clearance decision under the FSR, which started to apply on July 12, 2023.[2].Continue Reading First Merger Commitments Adopted under the EU Foreign Subsidies Regulation

On July 4, 2024, the European Commission imposed provisional countervailing duties on imports of battery electric vehicles (BEVs) from China.Continue Reading The European Commission targets Chinese battery electric vehicles with provisional duties to counteract subsidies

On January 24, 2024, the European Commission (“EC”) adopted five initiatives as part of the European Economic Security Strategy unveiled in June 2023.[1]  The initiatives are aimed at bolstering the EU’s economic security interests.  Their main focus is a proposal for a new EU FDI Screening Regulation aimed at inbound investments.[2]  But the package also includes a white paper on outbound investment control (the “White Paper”),[3] launching a debate on whether and how to scrutinize investment outflows from the EU for the first time in the Union’s history.Continue Reading EU Takes Time to Ready Outbound Investment Control Toolkit

On October 12, 2023, the notification obligations under the EU Foreign Subsidies Regulation (FSR) took effect.  Businesses must notify all M&A deals (if signed on or after July 12 and not yet implemented by October 12) and public procurement tenders (for offers submitted on or after October 12) meeting the relevant thresholds. Continue Reading Notification Obligations under the EU Foreign Subsidies Regulation Take Effect

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