The Italian Administrative Supreme Court upholds a veto against an acquisition in the agri-food sector and holds that the Prime Minster has a wide margin of discretion in the application of the national foreign direct investment screening mechanism (Verisem / Syngenta / ChemChina)

On 9 January 2023, the Italian highest administrative court (Consiglio di Stato, “COS”), emphatically confirmed that the Italian President of the Council of Ministers (informally also referred to as Prime Minister) enjoys a very wide margin of discretion in the application of the national foreign direct investment (“FDI”)