CELIS Institute

European Union – European Commission releases Fourth Annual Report on the screening of foreign direct investments into the Union  On 17 October 2024, the European Commission (“EC”) released the Fourth Annual Report on the screening of foreign direct investments into the Union (“Report”) for the year 2023. The Report is divided into 4 chapters and…

EU – European Commission publishes Commission Staff Working Document giving clarifications on the application of Art. 4 (1), Article 6 and Article 27(1) of Regulation (EU) 2022/2560 on foreign subsidies distorting the internal market On 26 July 2024, the European Commission (“EC”) published the Commission Staff Working Document on foreign subsidies distorting the internal market…

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…

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…

United Kingdom – Response of the UK Government to the Cabinet Office’s ‘call for evidence’ The UK Government published its response to the Cabinet Office’s ‘call for evidence’ on the National Security and Investment Act 2021 in April 2024. The UK’s new National Security and Investment Act (NSI) came into force on 4 January 2022,…

Ireland – Draft Guidance and Notification Form on the Irish Screening of Third Country Transactions Act 2023 On 16 February 2024, the Department of Enterprise, Trade and Employment published the Draft Guidance on the Irish Screening of Third Country Transactions Act 2023, as well as a Draft Notification Form. The regime is expected to enter…

Romania – New Amendments to the Romanian FDI regime On 6 December 2023 the Government Emergency Ordinance no. 108/2023 (“GEO 108/2023) was published in the Official Gazette. GEO 108/2023 provides for new amendments to Romania’s Competition Law no. 21/1996, aimed at fully transposing the EU Directive 1/2019 into local law. Main legislative changes include the…

Ireland – Introduction of a new FDI screening regime on 31 October 2023 On 31 October 2023, the Screening of Third Country Transactions Act 2023 was signed into law. Since the initial draft was published on 2 August 2022, the Act has undergone a series of amendments during the course of 2023,. Therewith, for the…

Germany – Upcoming Investment Screening Act and the 20th Amendment to the AWV There is a new Investment Screening Act upcoming in Germany – the new law is expected to separate the foreign direct investment screening rules from the German Foreign Trade Laws (contained in AWG and AWV), restructuring them into an isolated law. A…

Luxembourg – FDI Regime coming into force on 1 September 2023 The Luxembourg law of 14 July 2023 introduces a new foreign direct investment regime with a suspensory mandatory notification requirement in relation to investments in a broad range of sectors. Luxembourg is the latest European jurisdiction to pass broad FDI legislation and its FDI…