Stefano Crosio is a partner at Jones Day, based in the firm’s Milan office. For more than 20 years, he has advised public and private corporate clients and financial investors, particularly in the context of cross-border M&A transactions. He has significant experience advising North American clients and multinationals in their investments or divestments in Italy. His practice focuses on public and private M&A, takeovers, transactional private equity, joint ventures, and corporate governance. He regularly advises in the context of tender offers and other extraordinary transactions involving corporations listed on the Milan Stock Exchange and advises hedge funds on Italian equity capital markets regulations. Stefano Crosio’s recent experience includes advising U.S. clients in : (i) the takeover and delisting of an Italian-listed industrial component corporation ; (ii) a minority investment in an Italian-listed health care company ; (iii) the off-exchange sale of a qualified minority interest in an Italian-listed tiremaker ; and (iv) acquisitions or sales of Italian companies operating in the industrial, chemical, oil & gas, media, aviation, automotive, technology, and consumer products industries. He also advised a French conglomerate in its takeover of an Italian-listed energy corporation and a Canadian-listed corporation in the merger of its European carton board business with an Italian-listed corporation. Stefano is based in the Milan Office but regularly spends time in the New York Office to more closely service Jones Day’s North American clients. Before joining Jones Day, he was an M&A partner with Italy’s largest business law firm and was head of their New York office. He also served as general counsel of a corporation listed on the Milan Stock Exchange.
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The Development : The Screening of Third Country Transactions Act 2023 (the "STCT Act") was signed into law on October 31, 2023, introducing a new investment screening regime in the Republic of Ireland ("Ireland") with a mandatory filing system and a broad call-in power. The Result : (...)
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In Short The Situation : On July 13, 2023, the European Court of Justice ("ECJ") issued a judgment (Case C-106/22 - Xella) clarifying the conditions under which EU Member States may screen and block foreign direct investments. The Background : Over the past few years, EU Member States have (...)
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In Short The Development : The new Belgian foreign direct investment screening law ("FDI Regime") imposes preclosing filing requirements on non-EU investments into various industry sectors in Belgium, including energy, electronic communication, tech, and defense. The Background : Belgium (...)
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In Short The Background : Luxembourg has introduced a new foreign direct investment regime with a suspensory mandatory notification requirement in relation to investments in a broad range of sectors. The Result : Investors from outside the European Economic Area ("EEA") will be required to (...)
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In Short The Development : On 1 June 2023, the Security Screening of Investment, Mergers and Acquisitions Act (Wet Veiligheidstoets investeringen, fusies en overnames) ("the FDI Act") entered into force, introducing a mandatory notification requirement relating to investments in target (...)
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The 17th amendment to the German Foreign Trade and Payment Ordinance ("AWV") adopted by the federal government on April 27, 2021, included—compared to the original draft—a number of changes relevant to M&A transactions with a nexus to Germany. A draft 17th amendment to the AWV was (...)
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In Short The Situation : The French government issued on December 31, 2019, new rules substantially revising the French Foreign Direct Investments ("FDI") regulation. These new provisions mostly implement the recent PACTE law and the new EU FDI regulation which set up an EU screening (...)
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On 21 March 2019, Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019 establishing a framework for the screening of foreign direct investments into the Union (“FDI Regulation”) was published in the Official Journal of the European Union. The FDI Regulation (...)
