Competition & EU

Competitive Edge: Competition & EU Law - FDI special edition - October 2024

Keeping you up to date on Competition & EU law developments in Europe and beyond.

 

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Dear readers,

In this climate of increased geopolitical uncertainty and rivalry combined with the exponential growth of emerging technologies, investors can expect close scrutiny of foreign investments by Governments across the globe. Review is no longer limited to traditional military, dual-use technology or defence sectors, but also can include generative AI, quantum computing, energy supply chains, access to AI chips and semiconductors and critical infrastructure, as well as other sectors.

In a similar way to merger control, investors, acquirers and sellers need to familiarise themselves with applicable foreign direct investment (FDI) screening regimes as part of any transactional due diligence, and build in time for any required clearances. To make matters more complicated, each country has its own FDI regime with different rules.

In this special "FDI" edition of our Newsletter, we examine emerging trends and developments in FDI screening regimes with FDI experts from across our Bird & Bird offices. Whilst the vast majority of deals are still cleared, increased scrutiny can make risk assessment more challenging. We are seeing that Governments are seeking to expand the scope of their FDI regimes, minority investments as well as internal restructurings and asset deals are captured, and some Governments are also considering whether to address outbound investments.

From reforms to policy shifts, we provide an overview of the factors shaping FDI scrutiny and the global investment landscape. Our insights aim to equip you with the knowledge you need to navigate the complexities of cross-border investments.

As always, please reach out to us if you have questions or comments.

The Competitive Edge newsletter team


Foreign Direct Investment

EU

EU Commission takes cautious steps towards Screening of Outbound Investments

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For more information or further guidance in this area, please contact Baptist Vleeshouwers and Tialda Beetstra.

EU to strengthen its Foreign Investment Screening regime

Read the full story

This article was published in February 2024. For more information or further guidance in this area, please contact Anthony Rosen and Tamy Tietze.


Australia

FIRB Your Enthusiasm: Reforms Announced to Australia’s Foreign Direct Investment (FDI) Framework

Read the full story

For more information or further guidance in this area, please contact Aaron Chan and Alex Lazar.


Belgium

Navigating Belgium's Blackbox: the FDI Screening Mechanism 15 months in

Read the full story

For more information or further guidance in this area, please contact Paul Hermant, Baptist Vleeshouwers and Claire De Neve.


Czech Republic

Foreign Direct Investments in the Czech Republic - Insights

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For more information or further guidance in this area, please contact Ľubomír Brečka and Kristýna Opolzerová.


Denmark

The Danish FDI Act – what’s happening 

Read the full story

For more information, or further guidance in this area, please contact Morten Nissen or Nanna Sofie Krabbe.


France

A Practical Perspective on How to Deal with the FDI Regime in a M&A Transaction in France

Read the full story

For more information or further guidance in this area, please contact Carole Bodin.


Finland

Introducing the Foreign Direct Investment regime with latest trends

Read the full story

For more information, please contact Katia Duncker, Riikka Aarikka or Maria Karpathakis.


Germany

Germany expected to tighten grip on FDI

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For more information or further guidance in this area, please contact Dr Stephan Waldheim and Tamy Tietze.


Hungary

FDI Regimes in Hungary

Read the full story

For more information or further guidance in this area, please contact Dániel Arányi and Balázs Rudinszky.


Italy

FDI in Italy: Insights on the application of the Italian “Golden Power” regime

Read the full story

For more information or further guidance in this area, please contact Simone Cadeddu and Jacopo Nardelli.


Netherlands

Navigating Dutch FDI Notification: Are Internal Restructurings captured?

Read the full story

For more information or further guidance in this area, please contact Janneke Kohlen, Tialda Beetstra, and Sander Wagemakers.


Poland

Updated Guidelines for Polish FDI Screening Mechanism

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For more information or further guidance in this area, please contact Marcin Alberski or Szymon Golebiowski.


Slovakia

Early stages of the new FDI regime

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For more information or further guidance in this area, please contact Ivan Kisely and Róbert Čuperka


Spain

Updates and trends - Spanish Foreign Direct Investment

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If you need more information or further guidance in this area, please contact Candela Sotés.


Sweden

The Swedish FDI Act – What we’ve learnt

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For more information or further guidance in this area, please contact Michael Butler, Caroline Grotenfelt and Lukas Holmberg.


UAE

FDI regime in the United Arab Emirates

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For more information or further guidance in this area, please contact Surabhi Singhi and Abdulla Alhashili.


UK

Shaking Up the Bottle: CMA's Examination of the UK Infant Formula Market

Read the full story

For more information, please contact Anthony Rosen and Tenisha Cramer.

Visit our Foreign Direct Investment (FDI) webpage


Bird & Bird news and publications

Navigating the Complex Landscape of Merger Control and Foreign Direct Investment in Life Sciences in the EU and UK

Read this article written by Dr Saskia King and James Baillieu here


Events and webinars

Webinar

Navigating Employment Issues in Investigations: A Guide for InHouse Counsel

16 October | Online
10:00 - 11:00 GMT | 17:00 – 18:00 CST

It's easy to overlook employment law requirements in investigations, especially when an authority carries out an unannounced search at a company’s premises (“dawn raid”) or when a whistleblower report triggers a hasty internal investigation. However, failing to consider employment issues in an investigation can create legal and reputational risks for the company and damage employee morale.

This Lexology-hosted masterclass walks you through the typical stages of an investigation starting with an unannounced search of the company’s offices and explains how to deal with employment law requirements at each stage.

Speakers Anne Federle and Paweł Sawicki will share their experience in competition/criminal law investigations and Emily Clark will discuss the employment law requirements.

If you cannot make it to the live webinar, you can still register to receive the recording afterwards.

Full webinar description
Register for the free webinar


IBA 2024 Conference

15 - 20 September | Mexico City, Mexico

At this year's IBA conference, our Brussels-based partner Hein Hobbelen will be co-chairing, together with Jorge Kargl, a panel entitled “Emerging Digital Regulations: first lessons learned on the DSA, DMA, Data Act, AI Act.”.The panelists will discuss the new EU digital regulations (DSA, DMA, Data Act, AI Act, etc.), their impact on other countries, and the initial lessons learned.

The International Bar Association's annual conference is open to all legal professionals, at any stage in their career. It offers the opportunity to discuss the latest issues in the legal field and build valuable international connections. This year Bird & Bird is also sponsoring the LGBTI Law Committee dinner at the event.

More information on the conference here 


Florence Competition Autumn School

Recent Developments in Competition Policy

14-17 October | Fiesole, Italy

If you are a mid-career professional looking to advance your knowledge in competition law and economics, this event will help you to stay at the forefront of this ever-evolving field.

Among a distinguished lineup of instructors is our senior associate Tialda Beetstra, who will be presenting on Leniency and Dawn Raids and leading an interactive Dawn Raid Simulation exercise on 16 October. The event is organised by the Centre for a Digital Society of the EUI (European University Institute).

More information on the event here 


8th International Competition Law & Policy Conference

17 - 18 October | Athens, Greece

This annual event organized by Nomiki Bibliothiki gathers competition experts, academics, practitioners, and members of national and EU authorities to discuss the latest trends in competition law. Bird & Bird partner Jose Rivas will be speaking on State aid developments.

The key topics of this conference are:

  • Overview of last year’s developments from the regulators’ perspective
  • Key antitrust developments from the practitioners’ perspective
  • Antitrust / Abuse of Dominance
  • The DMA & DSA new era / Algorithms and AI ACT
  • Merger Control
  • State aid developments

This event is supported by the Hellenic Competition Commission, Hellenic Investors Association, and Hellenic Federation of Enterprises.

More information on the event here


Florence Competition Autumn Conference

The Digital Markets Act one year after: Where do we stand?

18 October | Fiesole, Italy and hybrid

Join this conference for a stimulating discussion on the status of the implementation of the Digital Markets Act (DMA), one year after the first gatekeepers’ designation decisions by the European Commission.

Our Brussels-based partner Hein Hobbelen will join a panel of experts discussing Gatekeepers designation: lessons learnt after one year. The event is organised by the Centre for a Digital Society of the EUI (European University Institute).

More information and registration


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