Articles for tag: critical infrastructure, FDI, free movement of capital, investment screening, Niederlassungsfreiheit

Rebuilding the Berlin Wall?

On 19 December 2018, the German government has passed amendments to the German Foreign Trade and Payments Act (“AWG”) and to the German Foreign Trade and Payment Ordinance (“AWV”) whose compatibility with European law is highly questionable. The structure and scope of investment review provided for under the AWG in conjunction with the AWV is that the Federal Ministry of Economics, the competent German authority, possesses an extensive ex-post examination competence regarding the acquisition of shares of German companies by third-country nationals. Of particular importance for foreign direct investments (FDI) is the screening of sector specific and cross-sectoral investments by ... continue reading

6. Februar 2019

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Avenues in European Company Law to Screen Foreign Direct Investment

Screening of foreign direct investments could take place through European company law. The harmonization of company law in the European Union as well as the CJEU’s case law offer mechanisms which could be used for the screening of foreign direct investments. Although their primary objective is “the protection of the interests of members and others”, they could also contribute significantly to an effective screening of foreign direct investments. There are five main avenues in European company law that could be used to screen foreign direct investment: the Takeover Bids Directive in the context of listed companies, the lawful golden shares ... continue reading

5. Februar 2019

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Debate: A Common European Law on Investment Screening?

Volvo Personvagnar AB, Kuka, Aixtron, OSRAM Licht, Daimler, Saxo Bank, the harbour terminal in Zeebrugge, Spain’s Noatum Port, Italy’s Vado Ligure Port or the Port of Piraeus – the list of discussed controversial company takeovers and acquisitions of major stakes in Europe is getting longer and longer. The political will in the European Union (EU) and its Member States is growing to more actively screen, control, or even prevent investments flowing into Europe. Third country investments stirring controversies archetypically share three common characteristics. The target companies typically operate in “politically sensitive areas”, the owner structure of the immediate buyer is ... continue reading

4. Februar 2019

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