FDI Enforcement Trends Around the Globe: Taking Stock and Looking Ahead

June 11, 2024 9:10am

Dr Jana Dammann de Chapto
Partner
Latham & Watkins LLP (Germany)

Nicole Kar
Specialist Adviser BEIS Sub-Committee on National Security and Investment
Department of Business and Trade (UK)

Allison Soilihi
Partner
Morgan, Lewis & Bockius LLP (France)

We have seen the first few cases in Europe where FDI decisions by a national regulator have been challenged in court. What trends are we seeing so far and the lessons learned?

  • Analysing the increased interaction between Member States via the EU screening mechanism and whether such information exchange and interaction leads to more FDI filings/investigations
  • Examining recent developments in Europe – what new FDI regimes will come into force, or further expansion to existing regimes? What will this mean in practice?
  • Determining the recent European Commission economic strategy and its proposed changes to the EU FDI regulation
  • Reviewing recent court decisions, including:
    • BMWK’s prohibition of the acquisition of PCK Raffinerie GmbH
    • BMWK’s prohibition of the acquisition of the German medical device manufacturer Heyer Medical AG
    • Italian government prohibited acquisition of Microtecnica
    • Recent Xella decision by the European Court of Justice
  • Will there be a reduction in regulatory hurdles as FDI Regimes continue to evolve and as courts continue to scrutinise the substantive review, commitments and procedural rights?