The Informed Board Podcast | Will the EU’s Focus on Foreign Subsidies Make It More Difficult To Acquire European Businesses?
Nota Bene Episode 102: Examining European Union State Aid in the Face of COVID and Brexit with Jacques Derenne and Robert Klotz
This newsletter is a summary of the antitrust developments we think are most interesting to your business. Roxane Hicheri (counsel based in Paris) and Mark Steenson (counsel based in London) are our editors this month. They...more
The Foreign Subsidies Regulation that entered into full effect late in 2023, added a third layer of regulatory scrutiny for large European Union (EU) Mergers and Acquisitions, in addition to merger control and foreign...more
The EU’s Foreign Subsidies Regulation (FSR) allows the European Commission (EC) to investigate and remedy subsidies received from non-European countries that distort the EU internal market. As the FSR marks its inaugural year...more
Most companies operating or intending to operate in the EU will have by now heard about the Foreign Subsidies Regulation (FSR). The three-headed chimera, which allows the European Commission (Commission) to address...more
On 24 September 2024, the European Commission adopted its first decision under the Foreign Subsidies Regulation (“FSR”)....more
Top EU Court Finds Booking.com’s Price Parity Clauses Not Ancillary to its Operation - If a main operation or activity is neutral or positive in its competitive effect and therefore falls outside EU competition law, then...more
For the first time, the European Commission has accepted commitments in a merger case reviewed under the EU Foreign Subsidies Regulation. What can we learn from the Commission’s announcement to clear the deal? We set out...more
In the context of a dawn raid under the EU Foreign Subsidy Regulation (FSR), the EU General Court (GC) has refused to suspend the European Commission (EC)’s request to access employees’ mailboxes located in China....more
European Commission Provides Guidance on Foreign Subsidies Regulation - Under the EU Foreign Subsidies Regulation (FSR), the European Commission (EC) has the power to investigate financial contributions granted by non-EU...more
The Situation: The European Commission ("EC") has released its first guidance on assessing market distortions under the Foreign Subsidies Regulation ("FSR")....more
Our Antitrust Team reviews how the European Commission is using the Foreign Subsidies Regulation (FSR) and, for the first time, performed an in-depth investigation into whether the acquirer of a company with activities in the...more
On 9 April 2024, the European Commission launched its first ex-officio investigation under the EU Foreign Subsidies Regulation, targeting Chinese wind turbines in Spain, Greece, France, Romania and Bulgaria....more
Hosted by C5 Group, the 5th Annual European Forum on Global FDI Reviews returns for another exciting year with curated programming that provide sessions on the most pressing issues coming across your desk and strategic...more
Just months after its first investigation under the Foreign Subsidies Regulation of Chinese train maker CRRC Corp. (see our LawFlash here), the European Commission has targeted two more companies participating in an EU...more
The first months of application of the EU Foreign Subsidies Regulation (FSR) have involved a large number of notifications, lengthy and wide-ranging requests for information, and the opening of the first in-depth...more
EU Foreign Subsidies Regulation: 100 Days in and the First Detailed Investigation - The obligation to notify certain large M&A transactions to the European Commission for clearance under the EU Foreign Subsidies...more
The European Commission launched its first investigation under the Foreign Subsidies Regulation against a Chinese company participating in an EU tender. On February 16, 2024, the European Commission (EC) launched its first...more
2024 is shaping up to be a year of significant change in Brussels. European Parliamentary elections in June will be followed by the appointment of a new Commission in the autumn....more
This regular alert covers key regulatory developments related to EU emergency responses, including in particular to Russia’s war of aggression against Ukraine, COVID-19, and cyber threats. It does not purport to provide an...more
The EU's new Foreign Subsidies Regulation (FSR), which came into effect on July 12, 2023, marks the European Commission's attempt to level the playing field by addressing the potential distortive effects of non-EU subsidies...more
THE EUROPEAN COMMISSION PUBLISHES FINAL IMPLEMENTING REGULATION ON PROCEEDINGS PURSUANT TO THE FOREIGN SUBSIDIES REGULATION - On July 10, 2023, the European Commission (the “Commission”) published its final regulation for...more
The Foreign Subsidies Regulation (FSR) establishes a new regime, enforced by the European Commission (EC), to regulate subsidies granted by non-EU countries to businesses active in the EU that could distort competition in EU...more
The EU’s Foreign Subsidies Regulation (FSR) gives the European Commission (EC) broad powers to control subsidies from non-EU countries, complementing the EU’s longstanding state aid regime that deals with subsidies from EU...more
As of October 12, 2023, notification obligations under the European Union’s (EU’s) groundbreaking Foreign Subsidies Regulation No. 2022/2560 (FSR) have started to apply, with wide-ranging implications for businesses operating...more
On 12 October, the next chapter of the EU’s fight against distortive subsidies opened, with ex-ante notification obligations for concentrations and bids in public procurement procedures involving subsidies by non-EU countries...more