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Global expertise to help you reduce deal uncertainty. 

 

Foreign direct investment (FDI) controls and national security screening processes are increasingly a ‘deal-critical’ consideration on complex cross-border M&A and financing transactions.

Our global foreign investment expertise will help you navigate the fast-moving international foreign investment landscape to plan and execute your deals with confidence. 

To discuss how we can help, please get in touch with our experts.

Increasingly complex regulatory environment

New FDI screening tools have proliferated in recent years while previously well-established regimes have expanded significantly in scope. Each regime has jurisdiction-specific characteristics. Sometimes even domestic deals can be caught. Enforcement is becoming more assertive as agencies react to recent geo-political and economic shocks such as Covid-19, Russia’s invasion of Ukraine and consequent inflationary pressures throughout the global supply chain.

Inter-agency cooperation

Added to this, agencies are now routinely coordinating FDI reviews with counterparts in ‘friendly’ third party countries, eg as between the U.S., Canada, UK, Australia and New Zealand (the so-called ‘five eyes’ partner countries) and between the European Union Member States.

Why choose Allen & Overy?

Strategic advice

Coordination and consistency across multiple parallel reviews are critical to keep cross-border deals on track. This is particularly the case when dealing with merger control and sectoral regulatory regimes in tandem with foreign investment reviews. We have the ‘one stop shop’ experience and expertise you need for effective deal execution.

Transactional and industry experience

We help clients secure foreign investment clearances for the market’s high-profile and sensitive transactions – across M&A, private equity, restructuring and secured debt. Governments often ask for our views on proposed new and amended regimes, enabling us to apply ‘ahead of the curve’ insights to clients’ clearance strategies.

Unrivalled global coverage

No matter what the geography, we can give you the advice and advocacy to get your deal done. Working with over 450 relationship firms, we advise across all major global regimes, including the Committee on Foreign Investment in the United States (CFIUS), all major EU Member State regimes, the EU FDI Regulation, the United Kingdom National Security and Investment Act, and Australia’s Foreign Investment Review Board (FIRB).

News and insights

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Publications: 23 January 2023

EU regulation on foreign subsidies - implications for infrastructure investors

A new EU Foreign Subsidies Regulation entered into force on 12 January 2023.

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Publications: 08 August 2022

Pre-notification and simplification: a historical turning point for the Italian FDI regime (Golden Power)

The Decree is going to introduce long-awaited simplifications to the Golden Power procedure.

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Publications: 24 March 2022

Foreign direct investments in Italy: the revised golden power regime

On 22 March 2022, Law Decree No. 21/2022 (the Decree) entered into force and provides for important amendments to Law Decree No. 21/2012 (the Golden Power Decree), as set out below.

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Publications: 04 May 2021

Mixed picture: Germany clarifies its FDI regime in view of high-tech and further sensitive companies

On 1 May 2021, the latest amendment of the German Foreign Direct Investment (FDI) regime entered into force, following a decision of the German government as of 27 April 2021.

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