Since the current Italian cabinet was sworn-in in October 2022, it has applied the Italian foreign direct investment (“FDI”) regime in a few relevant cases, which appear to be the bellwether of the new government’s approach to FDI review.Continue Reading Italian FDI, When the Government May Rewrite Corporate Governance
Giuseppe Scassellati-Sforzolini
Italy Further Broadens Its FDI Regime
On March 21, 2022, the Italian Government enacted a law-decree (“Decree”) to address the economic and humanitarian effects of the ongoing Ukraine crisis.[1]
The Decree further broadens Italy’s foreign direct investments (“FDI”) regime, by giving the Government the permanent power to review (a) acquisitions of controlling stakes by European Economic…
Italy Extends Its COVID-19 Emergency FDI Review Regime Through 2022
On December 30, 2021, the Italian Government extended until the end of 2022 Italy’s emergency foreign direct investments (“FDI”) regime, which enables it to review also acquisitions of controlling stakes by European Economic Area (“EEA”) investors, as well as certain minority investments by non-EEA investors, in any strategic sector.
By contrast, under ordinary rules, these…
EU Foreign Direct Investment Regulation Comes Into Force
By François-Charles Laprévote, Richard Pepper, Séverine Schrameck, Aurèle Delors, Giuseppe Scassellati-Sforzolini, Francesco Iodice, Michael J. Ulmer & Mirko von Bieberstein on
The EU Foreign Direct Investment Regulation came into force this week. It establishes a European framework for the screening of foreign investments into the European Union. In this memorandum we provide an overview of the legislation, and its expected practical impact on foreign investment review in the EU.
Please click here to read the full…
European Commission Urges Member States to Protect Suppliers of Essential Products from Foreign Takeovers
By Giuseppe Scassellati-Sforzolini, Nicholas Levy, Michael J. Ulmer, François-Charles Laprévote, Richard Pepper, Aurèle Delors, Mirko von Bieberstein, Francesco Iodice, John Messent, Konstantin Bondarenko, Katherine Nobbs & Edward Crane on
In a March 25, 2020 communication, the European Commission (“EC”) issued guidance on the screening of foreign direct investments (“FDI”) in the context of the COVID-19 pandemic. The communication identifies an increased risk of attempts by non-EU acquirers to obtain control over suppliers of essential products, in particular healthcare sector products. The EC calls on Member States to make use of pre-existing FDI regimes, and to introduce robust screening mechanisms where they do not already exist, to protect “critical health infrastructure, supply of critical inputs, and other critical sectors.” The communication builds on the increasing coordination among Member States that was already encouraged by the EU FDI Screening Regulation that comes into effect in October 2020.
Continue Reading European Commission Urges Member States to Protect Suppliers of Essential Products from Foreign Takeovers