On October 4, 2024, the European Commission proposal to impose definitive countervailing duties of up to 35.3% on imports of battery electric vehicles (BEVs) from China was adopted by the Council. The duties are imposed on top of the 10% EU import duty for cars.
Continue Reading Definitive Duties Adopted by the EU on Chinese Battery Electric Vehicles to Counteract Subsidies to Apply by October 30Thomas Harbor
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First Merger Commitments Adopted under the EU Foreign Subsidies Regulation
Posted in European Union, Foreign Subsidies Regulation
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 RegulationEU Takes Time to Ready Outbound Investment Control Toolkit
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 ToolkitBenelux FDI: Luxembourg FDI Screening Regime Enters Into Force
By François-Charles Laprévote, Vladimir Novak, Fynn Dewald & Thomas Harbor on
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 ForceOutbound Investment Screening Regime—EU May Follow In U.S. Footsteps
By Chase D. Kaniecki, Vladimir Novak & Thomas Harbor on
Foreign direct investment (“FDI”) control has historically been centred on inbound FDI, meaning investment inflow into a country. The tide is turning, as the United States seems ready to introduce an outbound FDI control mechanism, whereby capital outflow towards certain countries will be subjected to a screening process. Similarly, the European Commission (“Commission”) 2023 Work Programme indicates that the EC will “examine whether additional tools are necessary in respect of outbound strategic investments controls”, and is “prepared to revise the EU’s FDI screening regulation.”
Continue Reading Outbound Investment Screening Regime—EU May Follow In U.S. Footsteps