The EU Parliament steps up enforcement against foreign state-backed companies

If you (i) receive some form of financial support from foreign (non-EU) governments, and (ii) have activities or are planning to acquire a business in the EU, then you will want to read on. Following political agreement among legislators, the European Union (EU) Foreign Subsidies Regulation (FSR) is expected to receive formal approval later this year and will enter into force in mid-2023. The new rules will give the European Commission (Commission) far-reaching powers to go after investments and activities in the EU by companies that are owned or backed by foreign governments. These include: mandatory notification and approval of mergers, acquisitions or JVs that meet certain financial thresholds, separate from existing EU merger control. These transactions are subject to a mandatory

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Authors

  • Skadden, Arps, Slate, Meagher & Flom (London)
  • Skadden, Arps, Slate, Meagher & Flom (Brussels)
  • Skadden, Arps, Slate, Meagher & Flom (London)
  • Skadden, Arps, Slate, Meagher & Flom (Brussels)
  • Skadden, Arps, Slate, Meagher & Flom (Brussels)
  • Skadden, Arps, Slate, Meagher & Flom (Brussels)
  • Skadden, Arps, Slate, Meagher & Flom (Brussels)

Quotation

Bill Batchelor, Frederic Depoortere, Aurora Luoma, Giorgio Motta, Ingrid Vandenborre, Niels Baeten, Angelos Vlazakis, The EU Parliament steps up enforcement against foreign state-backed companies, 11 July 2022, e-Competitions July 2022, Art. N° 107864

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