CELIS Blog
The CELIS Blog is a unique forum for current debates on international investment control and economic security law and practice more broadly. It brings the latest developments and analysis to you. From economic security (law) experts – to economic security (law) experts.
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The U.S. Prohibition of the MineOne-Acquisition: What would be the treatment under EU and German Foreign Direct Investment Legislation?
By Benedikt Sichla, Research assistant at Clifford Chance 1. Introduction On May 13, 2024, President Biden issued an order prohibiting for national security reasons the acquisition of real estate and the operation of a cryptocurrency mining facility in close proximity to a U.S. Air Force base. The foreign ownership of the acquirer by nationals of the People’s Republic of China ...
Continue reading CELIS Update on Investment Screening – June 2024
European Union – European Commission opens first in-depth investigation On 10 June 2024, the European Commission (EC) opened its first in-depth investigation into the planned acquisition of sole control of PPF Telecom Group (PPF), a European telecommunications company headquartered in Czechia, by a state-controlled buyer from the United Arab Emirates (UAE), the Emirates Telecommunications Group Company PJSC (ETGC). The EC ...
Continue reading The European Union’s Critical Raw Materials Act: How Effective In Addressing Supply Chains Risks?
By Cecilia Nota, PhD Candidate University of Turin 1. Introduction In May 2024, Regulation (EU) 2024/1252, establishing a framework for ensuring a secure and sustainable supply of Critical Raw Materials, came into force. This contribution aims to assess how effectively this regulation addresses the current supply chain risks faced by the European Union (EU). Firstly, the significance of Critical ...
Continue reading Commission’s Discretion, Court’s Self-restraint. On the EU Court’s Approach to Reviewing Fines in Competition Cases
By Robert Foyle, University College Dublin* The General Court consistently defers to the European Commission's discretion and fining guidelines when imposing fines. This change limits judicial intervention and may undermine defendants' rights. A reliance on the Commission’s Guidelines has contributed to this restrained approach, raising concerns about the implications for fair competition enforcement. As was seen in the ...
Continue reading Updated guidance on the UK’s investment screening regime: key takeaways
By Veronica Roberts, Andre Pretorius and Ruth Allen, Herbert Smith Freehills LLP On 21 May 2024 the UK Government published updated versions of two key documents for investors seeking to assess how the UK National Security and Investment (NSI) screening regime may apply to a proposed transaction: an updated statement on how the Secretary of State intends to exercise ...
Continue reading The Carbon Border Adjustment Mechanism of the European Union
By Helge Wieggrefe, Research Assistant at the University of Münster and Co-Founder of kolum.earth In May last year, the European Union agreed to introduce the Carbon Border Adjustment Mechanism (CBAM), the first border tax adjustment for carbon pricing. To this end, a second emissions trading scheme will be set up that will apply to goods imported into the European ...
Continue reading Extended Screening of Foreign Investment in France: A Risk of Incompatibility with Company Law?
By Sabine Naugès and Professor Rémi Dalmau with contribution from Marie Soriano | McDermott Will & Emery Control of foreign direct investments in France (FDI) has been steadily tightened since 2014. The provisions of Articles L. 151-3 and R. 151-1 et seq. of the French Monetary and Financial Code (CMF), as supplemented by the Decree of December 31, 2019, ...
Continue reading CELIS Update on Investment Screening – May 2024
Netherlands – First interim relief court ruling to restrict the retroactive FDI enforcement by Dutch Minister Only two weeks after the Investments, Mergers and Acquisitions Act (FDI Act) came into force on 15 June 2023, the Minister made use of the possibility under the FDI Act to retroactively 'call-in' transactions that took place before the FDI Act came into force. ...
Continue reading Foreign Direct Investment in Thailand
By Lukas Baumgärtner, Mag. Iur, LL.M., Attorney at Law at Luther Rechtsanwaltsgesellschaft (Bangkok and Yangon) I. INTRODUCTION Thailand has demonstrated a significant trajectory of economic development over recent decades, with foreign direct investment (ʺFDIʺ) being an important contributor to this success. FDI inflows stood at USD 10 billion in 2022, down by 31.5% compared to the USD 14.6 billion ...
Continue reading The First Court Decision on the Austrian FDI Screening Regime
By Dr. Johannes Barbist, Binder Grösswang I. Introduction A regular CELIS blog reader will know already: Austria is at the forefront of EU jurisdictions when it comes to FDI filings submitted to the EU cooperation mechanism (counted by population, see here for a compilation of the data). However, until very recently there were no decisions by Austrian courts on ...
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The CELIS Blog always welcomes posts from economic security professionals that address current issues in international investment screening and economic security law and practice. Would you like to contribute to the Blog? Please contact our editors: blog@celis.institute
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